A Summer Training Project Report 466n4
This document was ed by and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this report form. Report 3i3n4
Overview 26281t
& View A Summer Training Project Report as PDF for free.
More details 6y5l6z
- Words: 14,477
- Pages: 66
cccc cc c c c c cc c cc cc c c c c c
c Submitted in the partial fulfillment of the requirement for two year Post Graduate Diploma in Management Programmec cc c —nder the Supervision of: R.K Prusty
Submitted by:
Submitted to: c
Sachidananda Sahoo
Officer Student (PGDM-III) ccccccccccccccccccccccccccccccRoll No: PG/14/096
Dr. Mohd. Zohairc
Lecturerc
c
c
c
SCHOOL OF MANAGEMENT SCIENCES, VARANASIc ëApproved by AICTE, Ministry of HRD, Govt. of India)cc cc cc c c c c cc c cc cc c c! c c
ccccc ccccccccccccccccc ccccccc c cccccccc ccccccccccccc—
cc c c c
c c
c cccccccccccc !"#!$%&'cc cc cc cc cc cc cc cc cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc
DECLARATION
cc
cc cc cc cc cc cc cc cc cc
DECLARATIONcc cccccc9 c c c 999c cc ccc c
cccc cccccc cc !"cc#$c%&'(c ccccc)ccccc cccc*+cc,--.cc,+c&c,--.$c "ccc ccc cccc!/ cc9 ccc )ccc0cc$cc cc cc cc cc cc cc
1c ccccccccccccccccccccc 1cccc 21c,--+ *-ccccccccccccccccccccccc 1cc cc
cc cc cc cc
CERTIFICATEcFROMcTHEc COMPANY/ORGANI ATIONcc cc cccccc" c cccc c c cc c cc
ccc349 c 9" #c #5 9 (cc!"cc#cc & cccc / cccc*+cc,--.cc,+c&c ,--.$c"c)c ccc cccccc $c cccccc9cccc$c$c c c cccc$cc cc cc cccccccccccccccccccccccccccccccccccccccccccccccccccccc$c3$c4$c c
%67c 'cc cc cc cc cc cc cc cc cc cc cc cc
ACKNOWLEDGEMENT
cc
cc cc cc cc cc cc cc cc cc
cc cc
()'* **+c ccc c c c c cc c c c c cc c cc cc c c c c c c c cc!ccc cc c c" c cccc #$ c%&''()*c(++ ',#-cc) c c' c. c c/c c c c c c c c cc c ccc &c ccccc cc " c cc cc cc c c c c c c c ccc c c c c cc c c cccc c c cc c c cc c c c c c c c ! cc cc c c c !c c cc c011230141c cccccc c!cc c c c cc cc) c c' c. cc cc c c c cccccc cc c"c c c c"cc5c c%/c/#c6c& -c6c
c c cc c c3 c c c c ccc c c c ccc c c ccc c cc c3 c c c c c!c c c c c cc
cc 7 c c!c c c" c cc cc" c c c"cc c c c c " ccc ccc"cc c c c c c c cccccc. c c"c"cc c" cc c" c c cc c
ccc c" c
cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc
cc cc cc cc cc cc cc cc
*,(*
cc
cc cc cc cc cc
cc cc cc cc cc cc cc
*,(*c * c ccc cc c c) * c c c c cccc c c c c c8 c c"c cc c c cc 7c* c cc c cc" cc c" c c cc c c& cc c"cc c c c"cc c c c c""c" c cc c cc c cc"cc c c c c c c cc" c c c c c cc c* c" cc c cc c c c c c cc c c c c c c c c c cc c c c" cc c c c cc c c c c c ccc c c c 7cc c c c c 3 c c c* c cc cc9cc011:31;c c011231<c* c cc c cc " cc c" c c cc c c& c c c" cc cc cc c c c cc c" c c c c cc c c cc c c c cc c c c/c cc! c c c cccc cc " c cc cc c c cc c c* c c c " cc c!c c* c c c c" c c c c c c c c ccc c c c* c c cc c c" c* c c ccc c c c c c c c c c cc c cc c c c c cc c c c cc c c* c ccc c
c" c c c cc c cc cc cc cc cc cc cc
EXECUTIVEc UMMERY
cc
cc
cc cc cc cc cc cc
EXECUTIVEc UMMERYc cccccc"cccc)cc cccccc
ccc c//c)ccccc/ cccc c c c)c)cc)cc cc$c"cccc c cc ccc c c/cc cc c$cc "c cc)c)c c c)ccccc $c cccccc cccc ccc c cc cc ccc
cc$c c c cc
ccc cc )cccc ccc$c cccccc"c)cccccc0
c ccc
c cc
$c87c
cc
ccccc
c)c cc
c cc/c/ccccccc $c9cc
ccccc
c c cc
cc $c 9cc: cc349 c 9" #c 66"(c $ccccc c;c:ccc c ccc)cc: c
/ccc ccc$cc cccccc"c c c cccccc
cccc
cc!"cc#ccc c)ccc cc c ccc
c$$cccc cc $c cccccc8c c/c
cc cccc:cc cc cc/ccc c/cc $cc cc cc cc cc cc cc cc cc cc cc
!
cc
cc cc cc cc cc cc cc cc cc cc cc cc
CONTENT
c
CHAPTERccIccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc$c $c9cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc*
*+cc /$cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc*. ,*cc CHAPTERccIIc ccCrccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc $c c c2c cc $c9 ccc $c?c cc CHAPTERccIIIc ccAcccIrrccccccccccccccccccccccccccccccccccccccccccc $ccc2c c;ccc#
c cc $cccccc $c3c cc
cc
CHAPTERccIVc $c8 cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc.* .+cc $c cc $c cc 7c 2c cccccccccccccccccccccccccccccccccccccccccccccccccc
INTRODUCTIONcTOcTHEcTOPICc 8 c cc cc"c c c c ccc" c* c c c cc"cc c cc cc cc"cc c c c* c c ccccc c c c c cc c c " c ccc ccc c c c c c cc * cc c c c cc" c cc" c c c c c c c cc c c c c c c cc cc c c c c c c c c%c c"c cc -c" c c c c c cc c* c c c c c c c c cc c* c c c c c c c" c c c c c c c " c c c c c cc cccccc5 c c cc c c cc ccc cccc
" c cc"cc c c cc cc c c* cc cc " c cc c c cc( c ccc c cc7c c c ccc c c c c"c c c c c"c cc ccc c c cccccc+cc" c c c c c c c c c cc c c c
* c" ccc c ccc'&/c+.(8c+(#,'&*c=8 c' cccc "c c c c ccc" >cc cc c c c c c c cc c c8 c cc c!c c c cc c" c c cc c c c7c cc c c"c c"c c" c* c "c c"c cc c c c c c" c c cc c c c c c cc cc c cc"ccc c c c! c c c c cc c8 c c c ccc c c cc c
* c"c c" c c c cc ccc cc c c c c cc) * c' c c cccccccccccccccccccccccccccc cccccccccc9
- . / 0c
* c cc c ccc c cc!c c c c c c c " cc ccc c c c c c c cc* c cc !c c c c cc c c c?c c c c !c c cccc c @c 7 c c c c 7ccc cc c c" c cc c c c c cc c c c cc cc c c c c c cAc7 c c% cc -c" c cc cc " c* cc3 c ccc c c
c c c* ccc!cccc c c c c ! cc" c cc c c c c c"c c cc c c c c c* c cc cc ccc!" c c c c á
á
8 c' cccc"c c c c ccc" >c c cc c c c c c c cc c c8 c cc c!cc c cc c " cc 8 c cc c c c7c cc c c"c c"c c" c* c "c c"c cc c c c
c c" c c cc c c c c c cc c c c cc"ccc c c c! c cc c cc cc
ccccccccccccccccccccccccccccccccccccccccccc'( (,*c(+c8'c cc')##,*c&,*ccccccccccccccccccccccccccccccccccccccccccccccc')##,*c. &5 . * ,c á '&/B5&$B'&/c,C) &.,*cccccccccccccccccccccc5 ..c &D&5.,cc á
5 ..c#,', &5.,cccccccccccccccccccccccccccccccccccccccccccccc'#, *(#/(#*c*,#c .(&cc
á
,5*(#ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc()**& Ec,F ,',cc
á
cc cc cc cc cc cc
,*(# , #, & c,F ,',ccccccccccccccccccc5&$c(,##&+*cc
**(123*(+9 *
cc
cc cc cc cc cc cc cc cc cc cc
á
á
á
á
**(123*(+9 *cc *c c c c c c c c c c c %'8-cc *c c cc c c c c cc c c c c ccc *c c c7 c cc c c"cc c c c cc c cc *c c c c " ccc" cc
cc á
á
á
cc cc
*c c c c cc c c c c c c c c c c c c c c c c c c cc cc *c c cc"cc"c c c c c ccc c cc cc c c c* c c cc "c c c c c c c cc *c c c c c"c c c c c c c cc c cc
cc cc cc cc cc cc cc cc
METHODOLOGY
cc
cc cc cc cc cc cc cc cc cc
METHODOLOGYc RE EARCHcDE IGNc cccccc"c c cc c c c /c c $c"cc
c cc /c c c ccc c) ccc)c ccc)cc c cc cc cc$c "cc c ccc c ccc cc;c
c c ccc $c "cccccc)c 1c ccccccc ccccccc rcr c cccccccccccc c ccc ccc ccc/c$$c
cc)c cccc c ccc
cc
c
$c"c c c/c/ cc@ c c "cccc $cc
cc)c:ccc cc
cccc
$c cccccc cccccc
c$cc cc cc
RATIOcANALY I
c
cccccccccccccccccccccccccccccc*$c!336"c3 "9c ,$c#9!9 c3 "9c A$c96"35"!3c63c3 "9c B$c 62"c"!3c63c3 "9c <$c349 c 9" #c"!3c63c3 "9c =$c36 9"3c"!3c63c3 "9c ccccccccccccccccccccc>$c63 "9 c5#6 ccc GRAPHICALcTOOL
c
¯ c cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
! cc cc cc
cc
cc cc cc cc cc cc cc cc cc
COMPANYROFILEc AbcAcrcc "c c2c c c9@ c cc$c cc/ c cc9c/ cc c c/ccccccc/c cc cc $cc cc! cC,Bcc c)ccc?cc! cCc,Ac cc cccc7ccc*-- ---c ccc /c,
cc)$c"c @ c cc / cc /c c $c9 c>Bc cc cc c / c
c9 c" c# c9 c c6 c c c c ! c!4 cc $c c2c c cccccccc cc )cc $c c cc/ c c c c c c/ cc cc cc c c? c
c c cc / c c2 cc9"c / $c"cc ccc"c2 c6(c;ccc,-cc ccc9)cDc 6c" c;cc c&c $cc
'2''45+1* —90cc á á
ccc/ c c$cc
á
"c"c ccc $cc
á
"c8c cccc$cc
á
"c6/c cc$cc
á
"c ccc?c$cc
á
cc
"c ccc$cc
cc)@ cc*
INcINDIA,cTHEcGROUPcI 1 cc á
&c c" c ccc
á
* c c ccc c cc
á
& c c cc"c ccc
á
. cc cc c6c& c cc
cc cc cc
GROUPcCOMPANIE cc á
Ec c. cc
á
) * c' c. cc
á
/ c c. cc
á
& c5cc. cc
cc cc
INDIANcCOMPANIE cc á
c c cc
á
* 8cc
á
,c c6c c. cc
á á á
c'c. cc 5cE$c $cc c cccc
cc cc cc cc
INTERNATIONALcCOMPANIE cc á
"c3c%"'cc
á
c"7 c%"'cc
á
"cc2c%"'cc
á
c2c c#$%"'cc
á
9cc"7 c#$c% 'cc
á
9ccc#$c% 'cc
á
"c9c2c3c%9 'cc
á
"c6c"7c9 c%9 'cc
á á
7cc2cc%6'cc #c2cc%'cc
á
ccc9 c%'cc
á
cc)c9 c%'cc
á
c2c c#$% 'cc
á
2c# cccccc%# 'cc
cc cc
˜OINTcVENTURE cc á
5c c.c cc
á
5c c.c& c c' c. cc
á
5c c.c " c' c. cc
á
* c c. cc
cc cc cc cc cc cc
'2' 99599 '—*c &c)cG0<0c" c c c& c5cEcc c ccc+ c H11c cc c"c c! ccc491111cc" c c91c c c c c cEc c" ccI* c5 c,c c c c c c c01c c&Ic"c c/ 3, c*c c8c c c c011;c(cH1cc cc c ccc cc c * cEc c c0Hc cJc c)$cE c/ c5 c c + c.!"c c& c)&c' c, c' c* c .c c c"c c c5 c c c c$cc
E"c c& c5cEc?cc ??c&c c c c cKc c 3 c c c cc/ 3cc c c c c c c c cc c c" cccc c c&c c c c c cc c ??c4c cc c"c ??c* c c ccc cc ??c* c c ccc" c"c ??c* c44 c c cc"c c c c c&c c c c c c c ??c& c cKc c4Hc5 (c c c c Kc cc ??c& c c" c c c c c
c ?cc c &cc" c ccc c * c c cc cc c c c * c c c c c 3c c c & c c cc"c c cc c &c cc cc c c c cc c & c c c c c c c c c" c #cc c c c& c5cEc cc c cc c cc c ccc c c cc c c cc! cc 2 62 c c8 c c9;11ccc c# c c c c cc c c c& c5c' c c' c c c#c c c"cc # c5cc c+ c ?c cc c "c c c c cccc c# cL0c c c42c c 2
?c& c5ccccc" c c c c cc c c%+D-c" c"c" c c c ! c c c& c5cc c c"c c c c
ccc cc c c" cc c%5 (-c *c c c c c c cc —+( ?c* cEc c" cc c" cEc c ) * Ac c* c c c c c cc ccc " c cc c c c c c) * Ac cc c c c" cc.6*c cc7c"c cc) c* c
' c c c c( c c' c c5 c+ c c' c c c c' c cc c Ac c! cc c c c! c c c c c c c( c&c ,c c cc, cc 99—+9*'99+*c c c cc& c5cEc Ec ccc 3 c c c c" c ccccccc c c c cc cEc c. cc c c" cc c) c' c c%)*'.-c c& c4<<2cEc7c c3 c c' c. c c#c "c c c c c7 cEc"c cc c cc c c c c c c c c! c cc cc
*49((*+*cc ' ccc c" c c c"c" cc" cc c % c c -c c% cc c -c c c ! c& cc cc cc ccc cc c cc c ccc c c c c&c cc c7cc 3c c cc ccc cc"c cc cc c c cc cc c c' cccc c c c cc c c c c cc c420Lc c c&c c c c' c c c c c c c cc c! c/c cc c cc c8c8c c cccc c"cc c*c c cc cc c c c c cc c#cc3!c cc" c c!c cc c c"c ccc cc c* c cc cc c c c c c c ccc cc 3!c c 3!c cc c!c c c c c c c! cc c c c c c c c* c ccc cc c ccc7 c c c c cc c!c) * Ac c & c5cEc' c ccc c" c cc c cc c c c7 c cc cc3c c cc cccc c"c" c c c c* c cc ccc cccc c c c"c c c cc c ccc c c5cc c c%5 -ccc cc c c" c& c c c"c c c c c c c c c c c7 cc c" c c c cc!cc cc c cccc c ) * c' ccc c" c"c c c c! c
c ccc cc c" ccJc cc c cc*c c7 c c cccc cc c c c c c c c c c c c" c c cc cc
1 - —+7 ( ./
8c # cc c cc c c" c c! c c c c c c cc cJc) * Ac cc c cc c'c Kcc" c c c c c cc c c c ( c + c c cc c c c cc! c c ccc c cc c c cc c ) * Ac' c cc c c ccc c c c c c"c c c cc c c c cc c c cc c! c c ( /// c 'c cJccccc c c c c"cc c c" cc c c c c cccJc c c cc c c cc c 3c* cc ccc c ccc c) * ' c cc c c c c ccc ccc5 c c c c cc c cc c , ///c c c c cc c c c"ccc cc c c c c c cc c c c c7 c c" c ) * Ac' c c c cc c ccc cc c c*c c c c 3 c c) * Ac ' c cc c c c c c c cc )c
"c ccc c ccccc cc c c cccc c) * Ac' cc c c c7 c c c c cc c c 9cc &! cc c c c! c c c" c% ccc cc c c-c c c c ccc cc c c* c " ccccc" c c cc c cc c cc c cc c) * Ac' cc7c c c" c c ! c c c c c c7 cc c c ccc ccc c
c!c c% ?c c?cc c?c c?c! -c c7 ccc cc c ccc c c!c* c 3 c cc c c c c c" c cc cc3 c cc c!c ccc c5 c c c c c c c c c c7 ccc c!c ! cc c c c c c c!c% c!cBc "c!-c c c c c c7 c cc + cc * c cc cc ccc! c c cc ccc cc c " cc c c c c c c c" c c c ) * Ac' c c cc cc!c c c c c c c c!c+ c c ccc c c c cc c c c c cc c c c cc c c c c c c c c c c c cc! c c"c c c cCc c! c c c c c c cc c "c c! ccc411111cc" c c0Hc c c c c cEc c" cc:+2 * 9 / ;$ <"c c/ 3, c*c c8c c c c011;c(cH1c c cc c ccc cc c 2 6 c& c5cEc?cc 8 c c9;11cc c c c c cc c c c& c 5c' cc' c c c#c c c"cc# c 5c+ c ?c cc c "c c c c c c ccc cc cc cc cc cc cc cc cc
/ +c rccDr rcc MrcKrcMcr,cC rc Mrc cAc MrcDc rc Mrc Kc˜c
Drc cMrc MrcKc c MrcKKcM rc MrcV rcRc MrcAjc r!c Mrc cMr,cMcDr rc
ccccccccccccccEx !rccC cF c O rc MrcKCcM rc
ccccccccccccccccccccccC cM rcO rc Mrc KcM rc
Cc rrc Mrc KcC rjc cc
**+,9'*c cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc
c /2 Chairman, the Aditya Birla Groupcc cc cc cc cc cc cc
c$c c5cc' cc c)Gc0<0c" c& c5cEc c Ac c c c c& c ccc5c c cc c cc c c c"c/ccc cc c' c5cc cc c#c5 cc c c cc c c "3' cc c' c5cc c#c5 cc c/cc c c
c cc Ac&c' c c*c c c/cc c c
c c5cc*c c"c c) c cc'c6c c c cc c cc' c&Ac&c' cc & c cc c c c' cc c' cc c c %' -@c c&!c&c' cc c& c' "cc'c c cc cc c c c&c' cc c' cc' c E cc /ccc c cc c c,! c5cc Ac' c c ' cE c cc cc,5 Ac c c c c/c c c Ac c c c c cc cc ( c cc cc5cc c' cc c5c cc* c 6c c%5 *-c c/cccc c c cEc5cc# c6c , c+ c& c cc c c& c# c&c5cc c. c5 c c cc c c c Ac c c c/ccc/ c+cc c. c5 c c%.5-cc c c c c"c c c"cc c.5cc cc c" c c cc5c cc c&c cE"c /#c,! cMc,!c.c&c c*Ac=E"c c.cc c >c c= cc# "c.>c"cO c cMcc c011;c,c c. c cMc c.c c c. c &cMc011:c5 c.cc c cc5c"c c c c c5cc c" c c c8c, c+Ac=D cE"c.=c =, c6cD c, cc cIc c cMc=5 c.c c c>c AcI5 c cc c>c Ac=D c c c c c',(c' >c * ,Ac=5 c >c c c 5"c c& Ac= c cc c>cc c cc c!c " c c c" c c5 c/ c ) cc c. c%/ c'-cc c c* c/ cc c cc c%/ c-cc" c cc5c c cc c "c " c c ccc" c c"c cEc c ) cc& c6c* c c+c c cc c cc c c c" c c c cc c c c c ccc c c#c) c c*cc c ccc cc. c*c c c c! c c!c " c c c" c c&c c c& c c c / c+ c c c.c c c/#c c c c =( c5 c cc c>cc cc &c c cc5c c c5&cc c. c5 c c c ccc c/ c+cc$c c5c c ccc
c5c c c c& c& cc c& cc cc cc cc cc
cccccccccccccccccccccc cccccccccccccccccccccccccccccccccccccccccccccccc cc c = /cc cc / / 59(' cc 2 / ( 'cc cc
cc c c&cc c cc c'c. cc c c "cc c/ccc c c c5cc c& c5c c' c cc c' cc c'c( c & cc cc cc" cc c c4<;9cc&c c c c c c& c
c' c%-c c c6c c c4<2;c c c5c c c c c c" ccc' c,! cc c*c c4<<1c c c c4<<9cc c c cc5c c c 3" c " c c c c cc" c c"c4<<2c cc cc',(cc c& c5cEKc cc 5c&*6*c. c/cc c c cccc 3c c c ! c c7 c cc c* c'c. c c"c',(cc c "c c'c+cc011Hc c( "c011:cc&cc c cc& c5cc. cc c c c cc c" cc&cc c/ c c c cc c Kc 'c c cc c cc c c cc c$ cc cc cc cc cc cc cc cc cc cc
Mr. Debu Bhattacharyacc
c
/ / 51 9 '5c
( c 9 c 2 / ( ' cc
cc cc cc cc cc cc cc cc
cc5 c c& c5cEKc% cc c c c c c" cEc c -c 3c c" c cc c c cc/ c c. cc+ cH11c c c c % -c c!cc#:1111cc8 c/ c7 cc c Kc c c c c cc011;cc5 c"c c c' ccc cc /cc c' cc) c& c c. c cc& c5c c. cc 3 cc"cc/ c c& c c c cc cJc c c c c c c c c cE cc c5 cc cc& c5c c' c. @c5c c' cc. @c c/"c c c. c%c 3 c"cc/ -c c6c c. c c& c 5c c' c. cc ( c c c"cc5 c c/ c cJc& c & cc c%&& -@c cJc c& c c% & -c cJc* c+ c& cc c%+& -@c"cJc,! c' c c& c c&3 cc& c' "cc'c c c c @c @c"cJc c&c' cc c cc c
c 5c ccc c cc/ c c. cc 5 cc c c cc c cEc' c. c c5 cc c cc c cI c5 c.cc cDc &c% 5.&-c011HIc c c c cI* c&c' c' cc cDc &c%&5.&-c011HIcc c5 cc c cc .,F c&c011;cc c6c. c ,! c
c5 c cc5c* c%/ -c c' c, cc *c $ c cc5c%/ -c c' cc c'c$ cc -ccc Ú
cc c c cc c
c
c$c$c c c c& c5cEKc"c' c5 c c c c c c c cJc c* c c' c* c EAc' c5 ccc 3c c c c c c cc c cc c!c c c c"c c c!c cc c c/ccc "cc cEKc"c c" c c c c c c"c c c c40c" ccc&cc, c c &c c c cc c* c cc ccc )cG0Hc" cc ccc cc& c5c c ' c c. c cEAc!c c c"c cc c c c cc c c ccc c c c" c c c& c5cEcc09cc c c c c cc "cc cc c c' c+ c cc c Ec c c# c c c. c% c cc& c5cc. -c /cccc c c c cc cEKc c c 7 cc" c c c4<22c cc c* c c cc "cc* c c c ' c'c. c c* c( c' c'c. c/cc"c c c c c0114c cc c cEKc' c5 c c c c c011Hc c c c" c "cc cEKc"c' c5 c c 011;c c"c cc c c" c" c c cc c c c ccc cc & c cc c c" c c cc c c) cc c 5 c @c cE"c' c.c c c cE"c*c c" c c @c cc c c cc c c c cc ' c& cc c c c/cc c cc c& c c 3c+"c cc c"cc c! c cc c c' c' c c"cc c c' c' c+ '' c
c c c c& c5cEc c c c c c c c c5c c. c cN c. c
c ccc"cc c& c' c c cc #cc c, c5c c"c c cc c8 c c * cc cccc c ccc"cc c5ccc c cc* c c5 c c c cc cc cc%5 c& -c c ccc"cc* c cc' c& cc c c c c'&c!c c4<;:cc cc
.
! c c cc c
c
cc#cc c& c5c c' c c. c /c c c&c+"c5 c cc cc c" cc cEcc cc c#c c cEc c4<<
cc c c c c5c c5 c c/cc c c " cc c cc$ c+"c cE c cc cc c#c c cc cc' c c4<;Hccc c c c c cc"c c cc c*! c c c c c ' ccc' cc /c c c cc c' cc c c%' -c cc c ! cc$ c/ccc cc& c&c"c c c Ecc c c c0119cc#ccc c c cc c c ! c cc c c cc cc c#c cc c c c c" c c/cc c c c c ccc c c c cc cc cc cc cc cc cc cc cc cc
—+( '3 / - .5 cc cc cc cc cc cc cc cc cc
c
UrT cCcLc —+ 'c c' c8c ccc cc 2 ccc c c'>+ccc c* c' c cc.6*ccc c011Lc c ( 'c c91Oc ccc7 c c c cc c c c c ) * c5c c c c cc c ccc c cc c c c cc c c c c c c c c 7 c" c c c c c c c cc ) * c c. ccEc"c c c c cc4;c c c c c c c( c c c c5 c+ c c' c c c c ccc cc c c" c c cc ccc ) c cc c cc c c c c 3 c c c c c cc. c* c c c c c c c c c c c cc' c. cc"c c c" c c c c c cc011:cc ) cc c Ac c! cc c c* c c! c c0Hc c cc c cc" c91Occ c Ac c! c * c! c c c c c c c( c&c,c c c c, c á
c c0L c& c0111cc.6*c c. cc
' c" cc.6*c. cc c c c c c011Lcc
á
Ec7c c c cc011Lcc
á
* c cEc c c cc c cc
á
c c c) * c' c. c c cc4L c( "c 011Lcc
cc
DccUrT "cr c c cc P/Uc
AcCcrc%c cc c cc c cc )cc c cc cc c cc 9cc c cc cD&c c cGrcUc cc cc c cc & cc c cc c 3c c cc c c c cc c2cc c cc Tc cc
Kcc c#$c
C cccc#c$cc
cc +---c .<--c *<---c +-<-c BA<-c cc cc cc cc cc cc cc
cc ,$Ac A$Ac <$Ac *$=c -$Bc cc *$,c -$+c -$Bc -$>c *$-c *>$-c
%c"ccc cc)c cc/c)c ccc c $cc cc cc cc cc cc
ACHIEVEMENT
c
&c c cc c) * cc (c4L114c, c c c c c c c(/&c42114c c' c c cc c" c c c c "c c c" c c c) * Ac c c&c c # c c @c$c"c cc cE @c/c c'
@c & c c c@c* c c& c @c c cc(c cc c 8 c5 c Pc
I Occc c
I Occ & c
O HA c c
Arrc cWr c
á
c
á
c
á
c
HrcCcWr c
á
c
á
c
á
c
˜ rc cWr c
á
c
á
c
á
c
Gjrc cWr c
á
c
á
c
á
c
A rr cCcWr c
á
c
á
c
á
c
Ar cCcWr c
á
c
á
c
á
c
NrcCcCcLc
á
c
á
c
á
c
cc & cc c cc9 cc$c9c cc)c)c9 1c.--* c 9 1c*B--*c;c9 1c*+--*c $c I Oc c " c cccc/ ccc c%cc 'cc) c / ccc:ccc$cc I Oc & c " cc/ ccc6 c%6/cc 'c)c /c) c $c OH A c c (/&c cc( c/ c6c c& cc(/&cc c c
c6c cc cc c cc cc
TYPEcOFcCEMENTRODUCEDcc ) * Ac c c( c c c c c c c c5 c+ cc cc 0cc cccccc( c c cc c c cc cccc cc
c* c cc3 c!c 3c3!c c c c c3 c c3 c c c ?? ( 0c cccccc c c cc c c c" c c c c%c cc c" cc cc" c c ccc -c c cc c c cc c cc c c c c c cc c c c c c c" c c c c c c c cc c c c! c c c c c c c c c c c
cc ccc c c" c c c c cc 2 , / 0c
cccccc c5 c+ cc c cc c;1Occ c c
c" 3 ccc c c c cc c c 3 cccc" c c c c cc c c c c cc cE ccc c c c c0HOcc c c c c c c c) cc c ccc cc c c cc c! cccc c cc c " c cc c c" 3 cc c cc cc " c c" cc c" c cc!c c c" cc c cc c cc c cc cc
˜HAR UGUDAcCEMENTcWORK c#˜CW$c DIVI IONcc LANDc "ccc:cc cccccc3/cc c c *=
$c9c ccc9) 2c3cc cc c)c c )c c*- cc& c)c $c9c c ccccc*=
ccc ccc*..,$c"c cccc) cccc*..Ac cccc cc*Bc c*..A$c RAWcMATERIAL c & cc) c cc??ccccc )c)c c1 c
cC rcc ccccccc)c ccc ccc9cc cc!"c% '$c9c c cc==E$c
cGcc cccccc"c c)cc cccc)c Fcc cc c
cc cc $c"cc c ccc
3 cccc c cccc8?c ?$c9c c cc<E$c ccccccccccccccccA$FcA c cccccc9c ccc99 #c9 c<-Ecc cc c c2$c9c c cc,.E$cc
MANUFACTURINGROCE c " c cc cc c7ccccccccc <- cc$c ccccc:ccc ccc cc cc/ c cc cc $c"c c) cccccc) c /c MANPOWERc TRENGTHc & cc c ccc$c"c& cc c cc c)cc*,>cccA-.cc $c9c c/ccc )c)c c cccc1 cc cc
¯ cc cc !!¯cc "!"!#cc $%&'cc (()%*+c cc cc cc cc cc cc cc cc
VI ION,cMI IONccVALUE cOFcTHEcCOMPANYcc "cc c/c cc/ c
c;c/ ccc/ccc $cc VI IONc
cccccc& cc c cccccc$cc
cc//c)cc7ccc7ccc
$cc MI IONc ccccccc ccc??cc)c cc:c
ccc ccccc:ccc $cc VALUE c cccccc"cc c/c/cc/ cc c/ ccccc c/ccc@ c $c" cc c) 1 c
Ic INTEGRITYcc ccc cccccc c c)cc c cc
ccc/ccc $c9c cccccccccc c ccc $c4c) ccccc c c c cc;c $cc IIcCOMMITMENTcc cccc c cc cc)/cc cc /c c $c4c) cccc c c c c c;c$cc cc
IIIA IONcc
c cc c
c?c cccccc )c) c)c cccc/c ccc $c3
c c cc;c/ c)c c/cccc cc c /c;c $c4c) ccc
cc c / c cccccc cc cc $cc IVc EAMLE NE cc
c ccc)cccccccc c
cc c c/ c
c
cc;c // c
c cccc c;c)$cc Vc PEEDcc c c cc: ccc;c7c cc
cc$c c cc c
cc cc
ccc?c?c$c4c) ccc
cc c c c c
c c c /cc /$cc cc
ADDRE c UrT cCcL,c˜ rcCcWr ,c NrcD rcrc ,cAr,cDr c˜ rc PcCc' c P c#&$c ( &/ ( c Fxc#&$c ( cc cc cc cc cc
PRODUCTIONccDI PATCHcc ©c ¯''/¯''c ¯''/¯''0c ¯''0/¯''+c ¯''#/¯''1c ¯''1/¯'''c ¯'''/&&&c &&&/&&¯c &&¯/&&c &&/&&c &&/&&c &&/&&0c &&0/&&+c &&+/&&#c &&#/&&1c &&1/&&'c cc cc cc cc cc cc
,-%. (c *$BAc A$.=c <$ABc <$
$
$A>c =$>.c =$*-c <$,,c >$>+c +$+,c +$.Ac *-$-Ac
" -%. (c *$AAc A$.
<$A>c <$<=c >$<=c =$,*c =$ABc >$A>c =$+-c =$*-c <$,
$>=c +$+,c +$+>c *-$-=c
—+7 ( c tock Codec Bombay tock Exchange c Pational tock Exchange c Ôeutersc Bloombergc
x x c — c — c — c
cc
' 0—+( c. c*c&c# c(cK5Kc 8 c& c' c0 c+c c'c#c& c%, -cc "c3cL111<9cc c3c cc
c?c::<4;211cc +!c?c::<0241
c?c0::909cc +!c?c0::99
c?c0222L4BL;cc +!c?c022204022294cc ,c?cP "cc c?c&c+ B c' c8c$c*?c#ccc &c3c9:HHL4cc E c3c cc
c?c02919Lcc +!c?c02919:cc ,c?cP "cc c?c&c+ B c' c8c c/ccc #c3cL<94
c?c0240:
*cc3c cc
c?c0<90<4cc +!c?c099H2Hcc ,c?c P "cc c?c&c+ B c' c8cc c#c c (c&ccc c c3c;:2010cc (c3c cc
c?c02941LB41Hcc +!c?c029412B441cc ,c?c" P "cc c?c&c+ B c8 c5 c' c8cc, c c c cc c3c;49040cc 8 c5 c3c cc
c?c0H9910
c?c0;0H4;Hcc +!c?c0;0:
c?c009:;
c?c0LH419cc +!c?c0LH441cc ,c?c&cc c?c&c+ B c' c8c5 c* c ccc & c c3cH4HL4Hcc & c c3c cc
c?c0222L4B14cc +!c?c022204BH
c?c&c+ B c' c8c (c$c*?c#ccc &c3c9:HHL4cc E c3c cc
c?c02919Lcc +!c?c02919:cc ,c?cP "cc c?c&c+ B c' c8cc6c ?c/c* ?cccc #c3cL<94
c?c02404;B042B004cc +!c?c024H;0cc ,c?cP "cc c?c&c+ B ccc cc#ccc c3c9
c?c0;0H4;HB4;:cc +!c?c0;0:
c?c009:;
c?c0LH419cc +!c?c0LH441cc ,c?c&cc c?c&c+ B c8 c5 c' c8cc, c c
?c#" cc c3c;49040cc 8 c5 c3c cc
c?c0H99191cc +!c?c0H999H2cc ,c?c" P "cc c?c&c+ B c& c' c8?c' cc c ccc
& c3c:94119cc *cc3c cc
c?c0<90<4c0<9444cc +!c?c0<9241cc ,c?c P "cc c?c&c+ B cE c' c8?cE cE c) c E cc$cE c#cc $c3ccc $ c3c cc
c?c02:H;HB014LH0cc +!c?c02:H;Lcc ,c?c&cc c?c&c+ B c/c' c8?cc6c ?c/c* ?c ccc #c3cL<94
c?c02404;c024042c024004cc +!c?c024H;0cc ,c?cP "cc c?c&c+ B c c' c8?cc c#c c
(c&ccc c c3c;:2010cc (c3c cc
c?c02941LB41Hcc +!c?c029412B441cc ,c?c" P "cc c?c&c /+ c
c
9 cc ‘ddress for correspondencec UltraTech Cement Limited 'B' Wing, 2nd Floor ‘hura Centre, Mahakali Caves Ôoad ‘ndheri (E) Mumbai 400 093 Tel: 022 - 66917800 Fax: 022 - 66928109 Email: [email protected]
cc Ôegistrar and transfer agentc harepro ervicescc (Unit: UltraTech Cement Limited) atam Estate, 3rd Floor
‘bove Bank of Baroda, Chakala, ‘ndheri (E) Mumbai 400099 Email: [email protected]
x
xc
cc cc cc cc cc cc cc cc cc
WOTcANALY I
cc
cc cc
W cc
r cc Ic Lrc c rcr ,cc
Ic MrcG!crr ,cc
IIc A!bccrcrcc c c rcc
IIc Mrc c cc
Orcc
T rcc cccc cc
Ic F cccbcc!cc crr r,cc
9$c
IIc Hccc crc rccc
99$c 8c cc
cc cc cc cc cc cc cc cc
3(*+9+cc
c66"cc
4 34c66"cc
# 8 3 c66"cc
2!& c66"cc &$4c66"cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
+9+**++9 '49cc cc cc cc cc cc cc cc cc cc cc cc cc 2'(*1**+,—'++*(1(**+'99+*@3()A,+1*4**9 B"+ (1;$$&0$C5;$$C0$D>;$$D0$%c 4c c cc ( c
;$$&0$Cc #c
;$$C0$Dc #c
;$$D0$%c #c
cc cc
cc
cc cc
;20L;H4Lcc
9 c
4H:L<141;cc
c
4H<1L9
( .c
%24<2401-cc
c
2120:H19c
+ ( c ,9 cc 2 .c
4040HH1;2cc
;902L01c
H:0:<4L:c
9LHLL:cc
;HH011:4c
;014L099c
BDD"&;##$c
;$"#E&$CCc
;#%&B;D"$c
cc
cc
cc
4490H99LL1cc
404L22L00:cc
400L;:1LL
' cc
:02HL2LL:cc
cc:2LH92<10cc
cc;H19:141Lcc
2 .c
H19<2L<
H919LH90Lc
L;LL119LLc
( -00 c
cc;9LL14<9c
cc:L22;012c
ccc
<210H;c
9 c
cccccccc41111c
cccccccc41111c
cccccccc41111c
+ c ' cc ( ' c ' c
%&EE%C&;Cc
C%&&%D&$%c
BD%DC&#DEc
cc cc
cc cc
cc cc
9429L:1:9cc
9
<4202cc
L914L:<0:cc
cccc04249H9c
3c
3c
B;$E;C#"&c
B%E#%"D;Dc
#B$"#&%;&c
cc 3cc
cc 3cc
cc 3cc
c + ( ' c 7 cc c c
3c
3c
3c
> cc
L920<;HH
:90922214cc
2<1LL09H1cc
cc
cc
cc
ccccc00:1;Hc
H1;0:L4c
444<1919c
3c
3cc
3c
' , 7 c ' c — ' c
ccccccc
ccccccc 9 cc
01:HL:H;;cc
+ ' c
%&EE%C&;Cc
09:0HL::4cc
H44;H:4:2cc
C%&&%D&$%c
BD%DC&#DEc
cc
PROFITccLO cA/CcOFcULTRATECHcCEMENTcLIMITEDc#˜CW$c FORcTHEcYEARc',c' cc c ©c ,c -cc
c -c - c
&&+/&#c 3 c cc ,+
,>>Acc
&&#/&1c 3 c cc A,>,* A
cccccc*,+-B>Ac
ccccccc.
<,-c
&&1/&'c 3 c cc A rel="nofollow">==,B.A=Bcc cccccc**,.=.+c
cccc%..<=<+,>'c %*-.+B.>..'c ccccccccc%*,-*<<+.*'c cccc,.<=.>*,c ccc%=+>B+'c
ccc,*.B*B+Bc
c
.2 c
(-cc cc !3c c
' '' ( c ( & ' c ( &c cc cc cc *,.-.B=*>cc cc*,
>,-cc *-A,+A+A>.cc
**B+A,B<+=cc
c
A>-..+++
ccB.<-B.->
<,*A,<,,Ac
, c
cc=,->,,>=c
ccccA=>-B,--c
c
c
cc,.>B=.+Bc
ccccA=*=ABA>c
ccB*=-+<+>c
+>*,++-.Bcc cc=+>+AA*.,cc
>A<*<,A*.cc
- .c
cccc,+-,B+=c
cccccBB,.A+
cccc=-*--+Ac
" c
cc<+B,+<*-c
ccc<>.A.><-c
cc====AA-.c
% / c
-c
ccccccc%,+++>-'c
ccccc%*.+,.+'c
c
( c , cc
(&'&'c &' c '' '(c ccBA+,.><<.cc cc=A,A+++-*cc +.-BB,A<-cc
, ( c ,( c cc cc cc
-c
-c
-c
cc&( 'c cc(( c &&(c
,99(9''49cc *'—*0cc
+ c c c c c c c c c c c c c"cc"c c c c c c c c c c cc c c c" cc c c =& >cc ccc c c c c c c c c c c c c"ccc c cc ((*+,,9(9'++**+c
+ c ccc cc"cc c c c c c c c c c c c"c c ccc cc c c c cc c cc cc c c c cc c ccc" cc* c c cc c cc c c cc c" c c
c c c c c c c c + c ccc cc"ccc c c c c c c c c c c "c& c c c c cc c c c c cc" c c"cc c c* c " c c c c c c c c" c c c c ccc c c c c cc c cc c "cc c c c c c c c"c c c c! c cc c c cc cc cc cc cc cc +4*,,9(9'++**+c
@A+2 0c * c" c cccc c c c cc c " c c c cc ccc c c c* c" c c c"c ccc cc c c cc ccccc c cc c cc* c cc cc cc ccc" c c"c =* c" c ccc c c c c c c ccc cc cc c c+c c c cccc" c cc c cc cc c" cc c c cc c ccc >c + c Q 0c & cc"cc c"cc" c cc7c cc "c c c cc ccccc cc c" c c c c ' 0c ." cccc c c c c c cc c c cc c"c c"c c" cc c cc* c c c" cc cc F- 7 G0c * c Ac7 cc c Ac c c c c cc c* c c cc c" c cc"c c c7 c* c c7 cc c cc! c7 cc c c ! cc c c" cc cc cc
((—+9 *H—+9c %5-c* c c 0c * c" c ccc"cc ccc c cc cc cc" c c c c"c c c cAc c c c ccc"c cc c" c c c c c c c c c cc c c cAc ccccc c c c c c cc cAc ccccc c c c c c cc c c cc cc &,*cRc. &5 . * ,cSc(8,#Ac,C) *Dc (#c (8,#c,C) *DcRc&,*c3c. 5 . * ,c (#c . 5 . * ,cRc&,*c3c(8,#Ac,C) *Dc & c c ccc c c c c cc Ac c% -c c cccc cc c c c c! c cc c cc cc Ac c cc c cc c c c ccc* c c ccc"cc cAc c c ccc c=* c c cc c c c c cccc c cc c c c c Ac c c c" ccccc >* c c cc c c c c c c ccc c! c c c c%c c-c ccccccc c* c ccccc cAc c" c Ac ccc c cc c c c c%! c c c c! cc !c -c c c c " cc cc c c c c c c c ccc cc @(A*&*,,*c(+c'/&E,c c+ &' &.c ( * (c ) c4<:1c c c c c c" c c c cc c c/c c cccccc cc c c c c c c c c( cc c c Ac cccc c cc c c c c +c cc c cc! c"c c" c c c' . c ccc c c ccc c c c c c"c c c c cc ccc cc" c *c c cc cc c c c c c c cc c c c +9*9+**+*c
& c c c& c cc c"c c c c cc" ccc c c c c c c c c c c cc c + cc c c c ?3c á
' cc c cc c" c c c cc
á
" c cc
á
' c c c" cc
á
c c c cc
á
*c c ccc
á
c c c ccc c c c c cc
á
, c c cc
á
"cc c c"c c c c c c cc
á
cc*! c cc
á
( c c c c c c c c c c c cc
á
* c cc"cc
,9(9'9'c &c Ac c cc c c c c cc c c c c c c c* c c c c cc c c c c c c"c! cccc c' c cc!cc c" c c c cccc c Acc " c c " cc c cc c c =c= c cc c c c c c "c c c c c c c c c( cc c c c c c ccc c cc Ac c c c c" c cc c" cc c"cc. 3 c c c c" c c cc c @c c c Ac" c c c c cc c c c c c c cc cc c cc ccc c c5 c c c c c c c cc7 cc* c cc& c cc c c c c" c cc c c c c+ ccc c c c c c c c cc c c c cc c cc"ccc c cc c c" c cc c" c c" c cccc c c " ccc c cc + cc c c ccAc c c c c c c c+ cccc c cc c
" c c c ccc" c c c c cc c cc c c c c cc c+ c c cccc ccc cc+ ccc c cc cc cc c c c cc c " c c c cc c c c c cc c c c+ c c ccc c c c c cc c c"c c cc c c&cc cc c ccc c+ cc" c c c c c c c c c c c cc c c c ccc c cc c c" c c c c c cc$ c c = c c c c c c c c c cc c cc c c cc c c " c ccc c c cc c c c cc c c cc* ccc cc c c c c c c c c c c c c c c cc c c c c cc c c" c"c c c cc >* c 7cc cc7 cc c c cc c c ccc c c cc cc c cc c ccc" c,"c c c c cc c cc c c c c c c c c 7 ?3c G 8c 5c / / - 8c (9 8c &cc c c c c c c7c c c c c ccc c c cc c c c" c c c cc cc cc"c! c c c cc c c cc c" c c8c c cc c cc c c c c Ôoy .A. Faulknercc c cc=cc cc cc cc c c cc cc "c cc c cc c cc c! c c c c cc" c c cc" cc c ccc cc>cc ccc "c cc c cc c c cc c cc c c" c cc c cc c cc c cc c"c c c cc cc cc cc
**,,9(9'9'c * c cc ccc c c ccc+c c ccc ccc=c cc cccc cc c cc c cc" c cc c7 c cc c c c" c c cc cc c c c"cc cc c c c c cc c"c c ccc c&c" c ccc c c c c cc c c c cc c cBc c c c7 ccc"c cc5c c c 7c c c c c c! cc= cc c>c c c c c ccc cc c c cc c c c cc c Ac c c c c"c c cc c c c"c c cc c cc"c "c c c cc cc cc cc cc cc cc cc cc cc cc cc cc cc
TATEMENTc HOWINGcCHANGE cINcWORKINGcCAPITALcc Ic CrrcAc 9/ c c c c;cc O rc rrcc #c;c / c Grcr c c CrrcLbc # c / c NcWr cCc
Irrcc
'c cc *<=B.-*->c *<.-BA.<-c ccc%+*.+*,-'c cc cc+-+,=<-Ac ( &&c cc A*+AB=-=Ac cc cc (''c
' c cc cc>+,B><*Bc ccB>A,+B,-c ccccccA=--+,c cc cc><<,--=*c &''c cc A.
)cI / c cc cc <-$--c cc >-$,Bc *-B$A.c cc ccc =$<>c & c cc cc,B$,Ac *--c (''c
c cc *,*,<<->+c cc<=,=.*B=c cccccccc.BA<,c cc cc>,-*B,AAc &( c cc BA-*B=.,=c cc # &
'$c
)cI / c cc c A$+-c cc B$=Bc ,A$.*c cc cc+$>=c cc =$.>c
c c+Dc011;312c c ccc"cH1Oc c c011;312cc c c c"cHL<:Occc cc c c c c c c c " ccc c cc011;312c c011:31;c"c c011;312c ccc c"c4L:9Oc c c c011231
((*+,)9 (9+'c Gross working capital:-c Ec c cc c cAc c c c c c c c"c c c c c c cc c c cc 3 c c" % c"cc"c" -c"c"c c % -c 2orking Capital:-c Acc c c c" c c c c c" c( c ccc c cc! c c cc c c c cc c c c% c"-cc"c"c c c! c ) . /( c c"c cc c&c c c c cc c c c c!c c" cc c c c c c c c" cc c!cc c c › ÔAN NT 2ÔNG CA›TAL:-c 8c c c c cc c cc"cc c cc* c cccc cc c cc c cc c cc c c5 c c cc c c cc cc c@c c c ccc c/c cccc ccc c c cc c7c"ccc cc c c" c c cc!c c cc c ccc c c cc c c cccc cAc!c cc c c c c c c cc c cc c cc c"c c c cc c+c!c! c cc c cc c c"c c c c ccccc c c c " c%"-ccc c c cc( c c c c
c cc cc cc c ccccc c c ccc 6AÔABL Ô FLUCTUATNG 2ÔNG CA›TAL:-c "cc c c c c! c c c c c c c c c cc cc cc5 c cc c cM c& cc c%#-c*c c+ c*c c% -3c 3 c c c cc c c cc5 c cc c c7 c7 c cc c c c c c cc c c" c c c c c c cc c c c c cc "cc c c c c cc cMc c c c c c/c c c c c c c"c
cc cAc7 cc c cc c%c -c ccc ,(—9 **+,(—*+*+c * cc c c cc c c c cc c c ?c 4c/c c c c c c Tc 0c/c c c c"c cc cc cc cc cc cc cc cc cc cc cc *+9 (1( *9(4('*c
* c cc c c c c c3 3c" c c c"c c8cc c cc" cc cc c7c c cc c c ccc c c7 cc c 8c c ccc cc c! c c cc c c c c, c ccccc c c c cc c c, c c cc c7ccc c* c c c c c c c c cc cc' c c c "ccc c c c c c* ccc c c c c ccc c* ccc c " c c c!c c c cc 7 c&cc7c cc
cc c c c c! c cc c c cc c c" c( c c c c c c c cc c c " cU "Vcc c c cAc cc ccc c ccc 8 cc c cTc ( ccc c c c7c c cc c cc c c c c c* c cccc c c c c ?c WcAcquisition of resources ccc c"cc cc c Wcanufacture of the product c c ccc c3 3 c c cc WcSales of the products cc cc c c' cc c "cc * c c c cc c cc c cc c"c c ccc"c c c ' cc c c"cc c c ccc c cc c c c c' c c c c c cc c c* ccc c7c c c c c ccc c c c c c c c7 c cc c cc! c ccc c@c c c c c! c c !cc c cc c" c c c c c' ccc c c c c c! c cc c c ccM 3ccc c c c c c cc c 3" cc cc c c* cc c cc cc c c cc c c c"c c c cc c" c%& c#"-cc c"c cc c cc c c c c c ' cc' cc (I)9(I, (c 9 c c c c / /( /cc
* cccc7 c c c c c" cc c c c cc/cc c cc cc Tc * c c cccc ccc ccc%-c c cc% ' -c c%-c" c%#"-c cc%' -* c c ccc c c c cc c c c c
c*c c ?c%-cc c cc%-c%"-3 3 c cc%8 ' -c c%-c cc cc %+E' -c* c" Ac ccc c c7c c c c c cc c c* c cc c cc c" c cccc ccc cc%E('- c ccc c7cc%c ccc -c c c c c c cc c! c "c c cc ccc c cc c c c c c c c* c c% "-c cccc %' -cc c cc c ccc"c cc c ccc c* c c" c%-c cc c"cc cc c cc%('-cc cc!cc! c c c cc cc c c ccc c c c c%'''- cc c c c" c c ccc c c c c ccc7c"c cc cc c c c cc c c cc c c c"c" c cc cc cAc c* cc c c c c cc c ccc" c* c ccc c c ccc 3 cc c c c cc ccc c c c c cc c c 3 " # c c c c c c c c c"c c7 c c c cc c" cc,!c c c c c c"c c"c cc cAc " ccc c c c ( c c c c 7 c cc c c c c cc c c"cc c " c c c c c" c c c"cc c c c c cc ccc"c c c c" c c* ccc!cc cc c c7 c* c c c"c c c c c c c c" c c cc cc c c c c c cc c c c c c c8 cc cc c c ccc c c c cc" c ccc c c c+ c c c"c c7ccc ccc cc c c c"c c c cc" c c"c c c 3c c c* c c c c c c cc ccc c c cc cc c c cc cc"c c cc cc cc cc
,(—9 '9H—99+4 **c c c ccc7 c c c c c7 c cc c c c c c! c c c c c cc"c c"c
ccc c' c c c"c c c!cc c " c c c cc"cc c" c c c c ccc" c cc c c c c c c c ccc c c c c c cc cc c c " c ccc cc c c ccc c c c c c c" c/c c7 cc c c c"c c c c ccc c c$$ c" c&cc .7 c ccc c c c cc c c cc c c c c&c c c c cc c7 c ccc c"c cc c Ac c!c7 ccc"c cc"c c c cc c c* cc c c c c c "c c"c c cc c c c" c c c7 c cc cc+ccc ccc c cc c c c cc c* c cc c c c c"c c c c ccc c cc7 c c c" c c c" c c c cc c c c c cc c! c c c c c c"c c c7 c c Bc"c c cc cc"c c c" cc c c cc c cc7c cc c c cc c c* cc ccc c c c! c cccc c c cc cc* c c c"cc c c c"c c c c c cc c c* cc ccc c c c c c"c c cc c"c c c c c c c"c cMc cc c$ c cc c c c c c ccc!cc c c c c c c"c c c c c c c c c cc c c c"c c c ccc cc cc cc cc cc cc cc
'49,)9 (9+' cc
cc cc cc
cc cc cc cc cc cc cc cc
'49,)9 (9+'cc & cc c cc c c cc c c c cc c 7 c cc c c c cc c c c c c ccc c cc c" c* c!cc c cc c c c" c c" c cc c # c c cc c c c c c c cc c c"c c c c c c c7c c cc c c* c cc c ccc c 7c c c ccc c c c c c c c c cc c c c c c ccc c c c cc* ccc c c cc c ccc c c"cc c cc c" c cc ccc c c c c c cc c cc c c c c c" cc "c c 7cc c c c c c )9 (9+'+*'49c * c c c c c c cc c c c c c" c c c cccc c c c c "cc c cc c c c c c" c c c c c c c c c* c c ccc cc cc c c c c c ccc c c"cc c c"ccc 411 c c c cc cMc c cc c cccc c c c" cc cc c c c c c"c c cc c c c c c ccc c cc cc cc cc cc cc
'G 0c ( 0c ' c cc cc c c cc c c7 ccc
' cc* cccccc c" cc c c c ccc c c* cc c"c c c c c c"c c c c" c cc!c?c ' c# cRc' c& c cccccccccccccccccccccccccccccccc' c." c * c c cccc c c c c c"c c c cc c" c c c c c c cc* c c" cc cc" c c cc cc%c c c-c ,!cc c cc c" cc cc c c c c c c% c c c c" -ccc c c c c ccc cc c c c8 c c cc c c c c c c c! c c c c c c c c" c c c c * c c cc c cc c cc c7cc c c cc c c" cc c c c c c3 3c c " c= ccc c cc ccc c c " c c c ccc c c ccc c >* c c cc cccccc c c" c c" c" c cc c c c c c,! ccc cc c ccc c c c"c c c "c c cc c" c8c c5 c c ccc c cc=cc c cc ccc"cc c c c c >5 c c c c c c"c c cc ccc cc >c 9'*(—*++9;"c á
c c cc c c c c cccc
á
cc cM c7 B cc
á
,!c c"c" c cc cc
á
) c c c c ccc c c c cccc
á
) c 3 c7 cc
á
cc cc cc cc cc
cc cc cc cc
Yrc Rc cc cc
'c *$,,c
' c -$<*c
c -$<+c
cc cc
cc
cIrrcc cccccc& c c" Accc "c0?4cc cc cc c c
" ccc c cc c c9cc c c ccc c011:31;c c7 c c c011231<c/c c cc"c c c c c"c c c cc cc c c ccc c cc c" c ccc c cc c cc cc c c!c cc cc cc
H. 0cc * c ccc cc" c c"c7c c* c c c# cc c "c c c cc c c c c c c c c ccc c c c c c "c c cc ccc cc cccc cccc c"cc * c"cc"c c cc c ccc c c c ccccc c c c c c* c c7c c cc c c! c c cc! c c c c cc7c c c c" c* c# cc cc cc Cc# cRc' c& cMc c ccccccccccccccccccccccccccccc' c." ccccc cc ccc Kc 3 c7 c* c7c ccc Ac" c c c c 3 c" c c c c7c c* c
c c7c c c" cc c cc c c cc cc c I3 c Icc cI7c c Icc cc
9'*H—9(+9""cc cc cc cc cc cc cc cc cc
cc cc cc cc
Yrcc Rc
'c -$>,c
' c -$A*c
c -$A-c
cc cc ccccc c cccIrrcc
c
ccccccccc&cc c5 Accc "c4?4c cc cc c7c c
/c c cc c cc c c7c c7c c cc c "c c c cc ccc c* cc cc c c c cc" cc c7c c& c cAc cc c c c c c c cccc" c cc c7c c A c c ccc cc cc ccc9
+ 0 c
,cc c c cc ccc cc cccc c"c "c c c c7 cc c" c5 c ccc c c c c"c c c c"cc c c c c c c c c c
ccc c" c" c c cc cc c cc c" c c cc!c c "cc cc c c cc c c c c c cc c c c c" c cc c cc c c c c c cccc"c c c c c* c c c c c c cc cc cc 19 1*+999(+*0c á ccc c cc á
cccccc cccccc
á
c cc
á
*c c c c c ccc cc
á
.c c c7 cc
á
')*+9* *'0cc ccc c ccccc
á
cccccc cccccc cc
á
á
c c c7 cc
á
*cc c c" c cc c cc
cccccccccccccccccccccccccccccccccccccccccccccccc9 0 J c ccc9 c
c c cc c cc cc c c cc )cc c c cBc c c c c cc c"cc7 c c ccc cc cc cc 7c c c c c.c c c c c c cc c cc c ccc c c c c" cc7 ccc c c cc " c cc cc cc ccc c c c c c c ccc c !c " c cc c c cc cXcc c cc cc cc c cc cc Yrc Rc cc
'c *+$,Bc
' c B*$+,c ccc
c cccc9
c A*$-=c
cc
cc
0cc
ccccccccc& c c c cc c c cc c cc
c 3c c c c c c c c c c cc c cc* c c 3c cc c ccc c011;312c c011231<c* c cc c" c c011;312c c ccc c011231
1 /0cc
cccDcc!rc c*cI!rcxc(c ccccccccccccc cc Yrc Rc cc
'c *.c
' c .c
c *,c
cccccc
cc
c
cc
c
Irrc cccccc* ccc c c c c cc c cc c
c cc/cc cc011;312ccc ccc c ccc c c* c cc c cc7c c cc cc cc
-9 + 0 0c ccccccccccccccccccccccccRcMrcTrO!rcRc*cMrcCc ccccccccccccccccccccccccccccccccA!cRcMrc I!rcc Yrc Rc cc c
'c AB$.=c
' c *=$->c
c ,,$
c
Irrc cccccc" cc cccccc/c)c cc)
$c"cc ) cc,-- rel="nofollow"> -+c cc)c/cc)cc/c /$c9cc c)c c cc c cc c cccc/)c,--> -+c ccc,--= ->cc,--+ -.$c cc
+ 0 0cc " c* 3(c# cRcc cccccccccc" cc 4c c
;$$&0$Cc 4;
cc c
c9
0c
;$$C0$Dc :<4Lc
;$$D0$%c ::<9c
cccccc* c c c c7 cc c" c c c
cc c c cc/ ccc c c"c " cc c cc c011;312c c" ccc7c c c c cc c cc c7c c ccccccccccccccccc A!rcC rc ccccccccccccccccccccccccccccc&c' c cRc" c!c9:Hc cccccccccccc
4c c
;$$&0$Cc 01c
;$$C0$Dc Hc
;$$D0$%c Hc
cc c
c9
0c * cc cc c cc c" c c c c&cc c c011;312c c011231
( + 0 0cc ' c* 3(c# cRc c ccccccccc' cc 4c c
;$$&0$Cc ;90c
;$$C0$Dc 4144c
;$$D0$%c 4:92c
cc cc
c
9 0* c c c c c c c c cc cc c c c c5 c c c" c ccc cc ccc"c c cc cc
A!rrcc &c c cRc' c!c9:Hc
cc 4c c
;$$&0$Cc 90c
;$$C0$Dc 9:c
;$$D0$%c 00c
cc cc c
c9
0cc cccccc c c cc "ccc c"c cc cc c c c/ c ccc c cc c"c cc.ccc c c"c" cc c cc c7 c ccc cc cc
) . /( + 0 0cc &c c c c cc c c c c ccc cc cc* cccc cc c c , cc cc c c c c c ccc 8 c' c* 3(c# cRc' ccc ccccccccccc c8 c' cc cc
&c cc c c% c c3c c" -c c c c c c c* c c c cc c c cc cc c c* c c c c ccc c c c c" c c cc c c c c cc cc c c cc c c c c c c c c c" c "c c c c c cc cc cccc c c c cc c c ccc cc cc cc cc cc cc cc cc
cc cc cc cc cc cc cc
Yrc Rc
'c *Bc
' c =c
c >$+-c
cc c
c9
0cc cccccc c c c c cc c c c c c cc c cc c c c c c c c cc cc c c c c cc 011;312c c011231<c* cc"c c" cc c c c c c" cccc cc cc cc cc cc cc cc cc
/ 0cc c c cRc &*c!c411c ccccccccccccccccccccccccccc 4c c
;$$&0$Cc 4H9Hc
;$$C0$Dc 4<99c
;$$D0$%c 09:Lc
cc cc c cc
c9 0cc cccccc* c c c c cc c c c c c
c c c cc cc* c cc cc" c c c c c c ccc c c c011:31;c c c c
c4H9HOcc c cc c c c ! c0cc c c c c 4<99Oc c09:LOc cc cc
0cc Ec c# cRc%cMc'(E-c!c411c cccccccccc 4c c
;$$&0$Cc :HH4c
;$$C0$Dc :424c
;$$D0$%c ;021c
cc cc c
c9
0cc cccccc* c c c c c c cc c c c c ccc c011231
c c!c c c"c cc c cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
FINDING cc cc cc
cc
cc cc cc cc cc cc cc cc cc cc cc
FINDING á
cc
' c cc c c c c c c " cc
cc á
* c7c ccc c c c c c " cc
cc á
* c c c c cc c9139Hcc c ccc c9cc cc cccc cc c c c cc cccc
cc á
* c cc c c c ccc c cc
cc á
* cc ccc "c c c cc c c ccc
cc á
cc cc ccc
cc á
cc
." cc c3 3c"c c cc cc c cc c c8 c' c cc
cccccccccccccccccccccccccccccccc cc cc cc cc cc cc
—
*+9
cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
á
— *+9cc * c c cc c c c c c c c" c c c7cc
cc á
* c7c c c c c"ccc
cc á
&cc c c c c c c c c c c c c ccc
cc á
cc
* c c c cc c" c c c c cc
á
' cc c cc c c"ccc c" cc c cc
cc á
, c c c" c c c c c7 cc c cc
cc á
* c c c c c c c c c c c c" cc
cc á
* c 3 c c c c"cc cc
cc cc cc cc cc cc cc cc cc cc cc cc cc
CONCLUSION cc cc cc cc cc cc cc cc cc cc
(('—9cc cc
cc
* c c" ccc c cc c " c c c " cc c c& c cc "c c& c5cc cc c c c c c c c cc c cc c c " cc c cc cccccc* c cc c c c/ &.'(c c& c 5c' cc& c cc;1ccc c* c+c& c7cc c cc c " cc/ &.'(c* c cc c c c c&cc c8 c c& cc c ccc ccc cc c c c ccc " c" c cc c cc c c 5 ccc c c c c c c/c(c c cc c cc cc c cc c c c c c c c c c7cc cccccc* cc c" c" c c c c cc c c cc cc* c c c cc c c ccc c c c c cccc c c0L!;c cc c cc c c cc cccccc* c c c c c/c' c8c cc ' c8cc c cc c c c c " c cc cc cc cc cc cc cc cc cc cc cc
292'9 14
cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
5 5. (E#& /Dcc á
c c+ c c4<;2cc " c/c c. c c cc
á
c#$c6cE c c$c c& c4<<:c c
" cc
á
' c c+ c cE c " c'cc cc
á
c c6c c$.c& c c6c c& c$ c
" c. cc
á
%& '&'( )*+,*-.
/
cc
0 c á
Ú 10 2('3' )455/-. . cc
*4 c
á á
"cc cc c c
á á
cc cc
'c
cc & c& cc011:31;c c011231
'c c c
c Submitted in the partial fulfillment of the requirement for two year Post Graduate Diploma in Management Programmec cc c —nder the Supervision of: R.K Prusty
Submitted by:
Submitted to: c
Sachidananda Sahoo
Officer Student (PGDM-III) ccccccccccccccccccccccccccccccRoll No: PG/14/096
Dr. Mohd. Zohairc
Lecturerc
c
c
c
SCHOOL OF MANAGEMENT SCIENCES, VARANASIc ëApproved by AICTE, Ministry of HRD, Govt. of India)cc cc cc c c c c cc c cc cc c c! c c
ccccc ccccccccccccccccc ccccccc c cccccccc ccccccccccccc—
cc c c c
c c
c cccccccccccc !"#!$%&'cc cc cc cc cc cc cc cc cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc
DECLARATION
cc
cc cc cc cc cc cc cc cc cc
DECLARATIONcc cccccc9 c c c 999c cc ccc c
cccc cccccc cc !"cc#$c%&'(c ccccc)ccccc cccc*+cc,--.cc,+c&c,--.$c "ccc ccc cccc!/ cc9 ccc )ccc0cc$cc cc cc cc cc cc cc
1c ccccccccccccccccccccc 1cccc 21c,--+ *-ccccccccccccccccccccccc 1cc cc
cc cc cc cc
CERTIFICATEcFROMcTHEc COMPANY/ORGANI ATIONcc cc cccccc" c cccc c c cc c cc
ccc349 c 9" #c #5 9 (cc!"cc#cc & cccc / cccc*+cc,--.cc,+c&c ,--.$c"c)c ccc cccccc $c cccccc9cccc$c$c c c cccc$cc cc cc cccccccccccccccccccccccccccccccccccccccccccccccccccccc$c3$c4$c c
%67c 'cc cc cc cc cc cc cc cc cc cc cc cc
ACKNOWLEDGEMENT
cc
cc cc cc cc cc cc cc cc cc
cc cc
()'* **+c ccc c c c c cc c c c c cc c cc cc c c c c c c c cc!ccc cc c c" c cccc #$ c%&''()*c(++ ',#-cc) c c' c. c c/c c c c c c c c cc c ccc &c ccccc cc " c cc cc cc c c c c c c c ccc c c c c cc c c cccc c c cc c c cc c c c c c c c ! cc cc c c c !c c cc c011230141c cccccc c!cc c c c cc cc) c c' c. cc cc c c c cccccc cc c"c c c c"cc5c c%/c/#c6c& -c6c
c c cc c c3 c c c c ccc c c c ccc c c ccc c cc c3 c c c c c!c c c c c cc
cc 7 c c!c c c" c cc cc" c c c"cc c c c c " ccc ccc"cc c c c c c c cccccc. c c"c"cc c" cc c" c c cc c
ccc c" c
cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc
cc cc cc cc cc cc cc cc
*,(*
cc
cc cc cc cc cc
cc cc cc cc cc cc cc
*,(*c * c ccc cc c c) * c c c c cccc c c c c c8 c c"c cc c c cc 7c* c cc c cc" cc c" c c cc c c& cc c"cc c c c"cc c c c c""c" c cc c cc c cc"cc c c c c c c cc" c c c c c cc c* c" cc c cc c c c c c cc c c c c c c c c c cc c c c" cc c c c cc c c c c c ccc c c c 7cc c c c c 3 c c c* c cc cc9cc011:31;c c011231<c* c cc c cc " cc c" c c cc c c& c c c" cc cc cc c c c cc c" c c c c cc c c cc c c c cc c c c/c cc! c c c cccc cc " c cc cc c c cc c c* c c c " cc c!c c* c c c c" c c c c c c c c ccc c c c* c c cc c c" c* c c ccc c c c c c c c c c cc c cc c c c c cc c c c cc c c* c ccc c
c" c c c cc c cc cc cc cc cc cc cc
EXECUTIVEc UMMERY
cc
cc
cc cc cc cc cc cc
EXECUTIVEc UMMERYc cccccc"cccc)cc cccccc
ccc c//c)ccccc/ cccc c c c)c)cc)cc cc$c"cccc c cc ccc c c/cc cc c$cc "c cc)c)c c c)ccccc $c cccccc cccc ccc c cc cc ccc
cc$c c c cc
ccc cc )cccc ccc$c cccccc"c)cccccc0
c ccc
c cc
$c87c
cc
ccccc
c)c cc
c cc/c/ccccccc $c9cc
ccccc
c c cc
cc $c 9cc: cc349 c 9" #c 66"(c $ccccc c;c:ccc c ccc)cc: c
/ccc ccc$cc cccccc"c c c cccccc
cccc
cc!"cc#ccc c)ccc cc c ccc
c$$cccc cc $c cccccc8c c/c
cc cccc:cc cc cc/ccc c/cc $cc cc cc cc cc cc cc cc cc cc cc
!
cc
cc cc cc cc cc cc cc cc cc cc cc cc
CONTENT
c
CHAPTERccIccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc$c $c9cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc*
c cc $cccccc $c3c cc
cc
CHAPTERccIVc $c8 cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc.* .+cc $c cc $c cc 7c 2c cccccccccccccccccccccccccccccccccccccccccccccccccc
INTRODUCTIONcTOcTHEcTOPICc 8 c cc cc"c c c c ccc" c* c c c cc"cc c cc cc cc"cc c c c* c c ccccc c c c c cc c c " c ccc ccc c c c c c cc * cc c c c cc" c cc" c c c c c c c cc c c c c c c cc cc c c c c c c c c%c c"c cc -c" c c c c c cc c* c c c c c c c c cc c* c c c c c c c" c c c c c c c " c c c c c cc cccccc5 c c cc c c cc ccc cccc
" c cc"cc c c cc cc c c* cc cc " c cc c c cc( c ccc c cc7c c c ccc c c c c"c c c c c"c cc ccc c c cccccc+cc" c c c c c c c c c cc c c c
* c" ccc c ccc'&/c+.(8c+(#,'&*c=8 c' cccc "c c c c ccc" >cc cc c c c c c c cc c c8 c cc c!c c c cc c" c c cc c c c7c cc c c"c c"c c" c* c "c c"c cc c c c c c" c c cc c c c c c cc cc c cc"ccc c c c! c c c c cc c8 c c c ccc c c cc c
* c"c c" c c c cc ccc cc c c c c cc) * c' c c cccccccccccccccccccccccccccc cccccccccc9
- . / 0c
* c cc c ccc c cc!c c c c c c c " cc ccc c c c c c c cc* c cc !c c c c cc c c c?c c c c !c c cccc c @c 7 c c c c 7ccc cc c c" c cc c c c c cc c c c cc cc c c c c c cAc7 c c% cc -c" c cc cc " c* cc3 c ccc c c
c c c* ccc!cccc c c c c ! cc" c cc c c c c c"c c cc c c c c c* c cc cc ccc!" c c c c á
á
8 c' cccc"c c c c ccc" >c c cc c c c c c c cc c c8 c cc c!cc c cc c " cc 8 c cc c c c7c cc c c"c c"c c" c* c "c c"c cc c c c
c c" c c cc c c c c c cc c c c cc"ccc c c c! c cc c cc cc
ccccccccccccccccccccccccccccccccccccccccccc'( (,*c(+c8'c cc')##,*c&,*ccccccccccccccccccccccccccccccccccccccccccccccc')##,*c. &5 . * ,c á '&/B5&$B'&/c,C) &.,*cccccccccccccccccccccc5 ..c &D&5.,cc á
5 ..c#,', &5.,cccccccccccccccccccccccccccccccccccccccccccccc'#, *(#/(#*c*,#c .(&cc
á
,5*(#ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc()**& Ec,F ,',cc
á
cc cc cc cc cc cc
,*(# , #, & c,F ,',ccccccccccccccccccc5&$c(,##&+*cc
**(123*(+9 *
cc
cc cc cc cc cc cc cc cc cc cc
á
á
á
á
**(123*(+9 *cc *c c c c c c c c c c c %'8-cc *c c cc c c c c cc c c c c ccc *c c c7 c cc c c"cc c c c cc c cc *c c c c " ccc" cc
cc á
á
á
cc cc
*c c c c cc c c c c c c c c c c c c c c c c c c cc cc *c c cc"cc"c c c c c ccc c cc cc c c c* c c cc "c c c c c c c cc *c c c c c"c c c c c c c cc c cc
cc cc cc cc cc cc cc cc
METHODOLOGY
cc
cc cc cc cc cc cc cc cc cc
METHODOLOGYc RE EARCHcDE IGNc cccccc"c c cc c c c /c c $c"cc
c cc /c c c ccc c) ccc)c ccc)cc c cc cc cc$c "cc c ccc c ccc cc;c
c c ccc $c "cccccc)c 1c ccccccc ccccccc rcr c cccccccccccc c ccc ccc ccc/c$$c
cc)c cccc c ccc
cc
c
$c"c c c/c/ cc@ c c "cccc $cc
cc)c:ccc cc
cccc
$c cccccc cccccc
c$cc cc cc
RATIOcANALY I
c
cccccccccccccccccccccccccccccc*$c!336"c3 "9c ,$c#9!9 c3 "9c A$c96"35"!3c63c3 "9c B$c 62"c"!3c63c3 "9c <$c349 c 9" #c"!3c63c3 "9c =$c36 9"3c"!3c63c3 "9c ccccccccccccccccccccc>$c63 "9 c5#6 ccc GRAPHICALcTOOL
c
¯ c cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
! cc cc cc
cc
cc cc cc cc cc cc cc cc cc
COMPANYROFILEc AbcAcrcc "c c2c c c9@ c cc$c cc/ c cc9c/ cc c c/ccccccc/c cc cc $cc cc! cC,Bcc c)ccc?cc! cCc,Ac cc cccc7ccc*-- ---c ccc /c,
cc)$c"c @ c cc / cc /c c $c9 c>Bc cc cc c / c
c9 c" c# c9 c c6 c c c c ! c!4 cc $c c2c c cccccccc cc )cc $c c cc/ c c c c c c/ cc cc cc c c? c
c c cc / c c2 cc9"c / $c"cc ccc"c2 c6(c;ccc,-cc ccc9)cDc 6c" c;cc c&c $cc
'2''45+1* —90cc á á
ccc/ c c$cc
á
"c"c ccc $cc
á
"c8c cccc$cc
á
"c6/c cc$cc
á
"c ccc?c$cc
á
cc
"c ccc$cc
cc)@ cc*
INcINDIA,cTHEcGROUPcI 1 cc á
&c c" c ccc
á
* c c ccc c cc
á
& c c cc"c ccc
á
. cc cc c6c& c cc
cc cc cc
GROUPcCOMPANIE cc á
Ec c. cc
á
) * c' c. cc
á
/ c c. cc
á
& c5cc. cc
cc cc
INDIANcCOMPANIE cc á
c c cc
á
* 8cc
á
,c c6c c. cc
á á á
c'c. cc 5cE$c $cc c cccc
cc cc cc cc
INTERNATIONALcCOMPANIE cc á
"c3c%"'cc
á
c"7 c%"'cc
á
"cc2c%"'cc
á
c2c c#$%"'cc
á
9cc"7 c#$c% 'cc
á
9ccc#$c% 'cc
á
"c9c2c3c%9 'cc
á
"c6c"7c9 c%9 'cc
á á
7cc2cc%6'cc #c2cc%'cc
á
ccc9 c%'cc
á
cc)c9 c%'cc
á
c2c c#$% 'cc
á
2c# cccccc%# 'cc
cc cc
˜OINTcVENTURE cc á
5c c.c cc
á
5c c.c& c c' c. cc
á
5c c.c " c' c. cc
á
* c c. cc
cc cc cc cc cc cc
'2' 99599 '—*c &c)cG0<0c" c c c& c5cEcc c ccc+ c H11c cc c"c c! ccc491111cc" c c91c c c c c cEc c" ccI* c5 c,c c c c c c c01c c&Ic"c c/ 3, c*c c8c c c c011;c(cH1cc cc c ccc cc c * cEc c c0Hc cJc c)$cE c/ c5 c c + c.!"c c& c)&c' c, c' c* c .c c c"c c c5 c c c c$cc
E"c c& c5cEc?cc ??c&c c c c cKc c 3 c c c cc/ 3cc c c c c c c c cc c c" cccc c c&c c c c c cc c ??c4c cc c"c ??c* c c ccc cc ??c* c c ccc" c"c ??c* c44 c c cc"c c c c c&c c c c c c c ??c& c cKc c4Hc5 (c c c c Kc cc ??c& c c" c c c c c
c ?cc c &cc" c ccc c * c c cc cc c c c * c c c c c 3c c c & c c cc"c c cc c &c cc cc c c c cc c & c c c c c c c c c" c #cc c c c& c5cEc cc c cc c cc c ccc c c cc c c cc! cc 2 62 c c8 c c9;11ccc c# c c c c cc c c c& c5c' c c' c c c#c c c"cc # c5cc c+ c ?c cc c "c c c c cccc c# cL0c c c42c c 2
?c& c5ccccc" c c c c cc c c%+D-c" c"c" c c c ! c c c& c5cc c c"c c c c
ccc cc c c" cc c%5 (-c *c c c c c c cc —+( ?c* cEc c" cc c" cEc c ) * Ac c* c c c c c cc ccc " c cc c c c c c) * Ac cc c c c" cc.6*c cc7c"c cc) c* c
' c c c c( c c' c c5 c+ c c' c c c c' c cc c Ac c! cc c c c! c c c c c c c( c&c ,c c cc, cc 99—+9*'99+*c c c cc& c5cEc Ec ccc 3 c c c c" c ccccccc c c c cc cEc c. cc c c" cc c) c' c c%)*'.-c c& c4<<2cEc7c c3 c c' c. c c#c "c c c c c7 cEc"c cc c cc c c c c c c c c! c cc cc
*49((*+*cc ' ccc c" c c c"c" cc" cc c % c c -c c% cc c -c c c ! c& cc cc cc ccc cc c cc c ccc c c c c&c cc c7cc 3c c cc ccc cc"c cc cc c c cc cc c c' cccc c c c cc c c c c cc c420Lc c c&c c c c' c c c c c c c cc c! c/c cc c cc c8c8c c cccc c"cc c*c c cc cc c c c c cc c#cc3!c cc" c c!c cc c c"c ccc cc c* c cc cc c c c c c c ccc cc 3!c c 3!c cc c!c c c c c c c! cc c c c c c c c* c ccc cc c ccc7 c c c c cc c!c) * Ac c & c5cEc' c ccc c" c cc c cc c c c7 c cc cc3c c cc cccc c"c" c c c c* c cc ccc cccc c c c"c c c cc c ccc c c5cc c c%5 -ccc cc c c" c& c c c"c c c c c c c c c c c7 cc c" c c c cc!cc cc c cccc c ) * c' ccc c" c"c c c c! c
c ccc cc c" ccJc cc c cc*c c7 c c cccc cc c c c c c c c c c c c" c c cc cc
1 - —+7 ( ./
8c # cc c cc c c" c c! c c c c c c cc cJc) * Ac cc c cc c'c Kcc" c c c c c cc c c c ( c + c c cc c c c cc! c c ccc c cc c c cc c ) * Ac' c cc c c ccc c c c c c"c c c cc c c c cc c c cc c! c c ( /// c 'c cJccccc c c c c"cc c c" cc c c c c cccJc c c cc c c cc c 3c* cc ccc c ccc c) * ' c cc c c c c ccc ccc5 c c c c cc c cc c , ///c c c c cc c c c"ccc cc c c c c c cc c c c c7 c c" c ) * Ac' c c c cc c ccc cc c c*c c c c 3 c c) * Ac ' c cc c c c c c c cc )c
"c ccc c ccccc cc c c cccc c) * Ac' cc c c c7 c c c c cc c c 9cc &! cc c c c! c c c" c% ccc cc c c-c c c c ccc cc c c* c " ccccc" c c cc c cc c cc c cc c) * Ac' cc7c c c" c c ! c c c c c c7 cc c c ccc ccc c
c!c c% ?c c?cc c?c c?c! -c c7 ccc cc c ccc c c!c* c 3 c cc c c c c c" c cc cc3 c cc c!c ccc c5 c c c c c c c c c c7 ccc c!c ! cc c c c c c c!c% c!cBc "c!-c c c c c c7 c cc + cc * c cc cc ccc! c c cc ccc cc c " cc c c c c c c c" c c c ) * Ac' c c cc cc!c c c c c c c c!c+ c c ccc c c c cc c c c c cc c c c cc c c c c c c c c c c c cc! c c"c c c cCc c! c c c c c c cc c "c c! ccc411111cc" c c0Hc c c c c cEc c" cc:+2 * 9 / ;$ <"c c/ 3, c*c c8c c c c011;c(cH1c c cc c ccc cc c 2 6 c& c5cEc?cc 8 c c9;11cc c c c c cc c c c& c 5c' cc' c c c#c c c"cc# c 5c+ c ?c cc c "c c c c c c ccc cc cc cc cc cc cc cc cc
/ +c rccDr rcc MrcKrcMcr,cC rc Mrc cAc MrcDc rc Mrc Kc˜c
Drc cMrc MrcKc c MrcKKcM rc MrcV rcRc MrcAjc r!c Mrc cMr,cMcDr rc
ccccccccccccccEx !rccC cF c O rc MrcKCcM rc
ccccccccccccccccccccccC cM rcO rc Mrc KcM rc
Cc rrc Mrc KcC rjc cc
**+,9'*c cccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc
c /2 Chairman, the Aditya Birla Groupcc cc cc cc cc cc cc
c$c c5cc' cc c)Gc0<0c" c& c5cEc c Ac c c c c& c ccc5c c cc c cc c c c"c/ccc cc c' c5cc cc c#c5 cc c c cc c c "3' cc c' c5cc c#c5 cc c/cc c c
c cc Ac&c' c c*c c c/cc c c
c c5cc*c c"c c) c cc'c6c c c cc c cc' c&Ac&c' cc & c cc c c c' cc c' cc c c %' -@c c&!c&c' cc c& c' "cc'c c cc cc c c c&c' cc c' cc' c E cc /ccc c cc c c,! c5cc Ac' c c ' cE c cc cc,5 Ac c c c c/c c c Ac c c c c cc cc ( c cc cc5cc c' cc c5c cc* c 6c c%5 *-c c/cccc c c cEc5cc# c6c , c+ c& c cc c c& c# c&c5cc c. c5 c c cc c c c Ac c c c/ccc/ c+cc c. c5 c c%.5-cc c c c c"c c c"cc c.5cc cc c" c c cc5c cc c&c cE"c /#c,! cMc,!c.c&c c*Ac=E"c c.cc c >c c= cc# "c.>c"cO c cMcc c011;c,c c. c cMc c.c c c. c &cMc011:c5 c.cc c cc5c"c c c c c5cc c" c c c8c, c+Ac=D cE"c.=c =, c6cD c, cc cIc c cMc=5 c.c c c>c AcI5 c cc c>c Ac=D c c c c c',(c' >c * ,Ac=5 c >c c c 5"c c& Ac= c cc c>cc c cc c!c " c c c" c c5 c/ c ) cc c. c%/ c'-cc c c* c/ cc c cc c%/ c-cc" c cc5c c cc c "c " c c ccc" c c"c cEc c ) cc& c6c* c c+c c cc c cc c c c" c c c cc c c c c ccc c c#c) c c*cc c ccc cc. c*c c c c! c c!c " c c c" c c&c c c& c c c / c+ c c c.c c c/#c c c c =( c5 c cc c>cc cc &c c cc5c c c5&cc c. c5 c c c ccc c/ c+cc$c c5c c ccc
c5c c c c& c& cc c& cc cc cc cc cc
cccccccccccccccccccccc cccccccccccccccccccccccccccccccccccccccccccccccc cc c = /cc cc / / 59(' cc 2 / ( 'cc cc
cc c c&cc c cc c'c. cc c c "cc c/ccc c c c5cc c& c5c c' c cc c' cc c'c( c & cc cc cc" cc c c4<;9cc&c c c c c c& c
c' c%-c c c6c c c4<2;c c c5c c c c c c" ccc' c,! cc c*c c4<<1c c c c4<<9cc c c cc5c c c 3" c " c c c c cc" c c"c4<<2c cc cc',(cc c& c5cEKc cc 5c&*6*c. c/cc c c cccc 3c c c ! c c7 c cc c* c'c. c c"c',(cc c "c c'c+cc011Hc c( "c011:cc&cc c cc& c5cc. cc c c c cc c" cc&cc c/ c c c cc c Kc 'c c cc c cc c c cc c$ cc cc cc cc cc cc cc cc cc cc
Mr. Debu Bhattacharyacc
c
/ / 51 9 '5c
( c 9 c 2 / ( ' cc
cc cc cc cc cc cc cc cc
cc5 c c& c5cEKc% cc c c c c c" cEc c -c 3c c" c cc c c cc/ c c. cc+ cH11c c c c % -c c!cc#:1111cc8 c/ c7 cc c Kc c c c c cc011;cc5 c"c c c' ccc cc /cc c' cc) c& c c. c cc& c5c c. cc 3 cc"cc/ c c& c c c cc cJc c c c c c c c c cE cc c5 cc cc& c5c c' c. @c5c c' cc. @c c/"c c c. c%c 3 c"cc/ -c c6c c. c c& c 5c c' c. cc ( c c c"cc5 c c/ c cJc& c & cc c%&& -@c cJc c& c c% & -c cJc* c+ c& cc c%+& -@c"cJc,! c' c c& c c&3 cc& c' "cc'c c c c @c @c"cJc c&c' cc c cc c
c 5c ccc c cc/ c c. cc 5 cc c c cc c cEc' c. c c5 cc c cc c cI c5 c.cc cDc &c% 5.&-c011HIc c c c cI* c&c' c' cc cDc &c%&5.&-c011HIcc c5 cc c cc .,F c&c011;cc c6c. c ,! c
c5 c cc5c* c%/ -c c' c, cc *c $ c cc5c%/ -c c' cc c'c$ cc -ccc Ú
cc c c cc c
c
c$c$c c c c& c5cEKc"c' c5 c c c c c c c cJc c* c c' c* c EAc' c5 ccc 3c c c c c c cc c cc c!c c c c"c c c!c cc c c/ccc "cc cEKc"c c" c c c c c c"c c c c40c" ccc&cc, c c &c c c cc c* c cc ccc )cG0Hc" cc ccc cc& c5c c ' c c. c cEAc!c c c"c cc c c c cc c c ccc c c c" c c c& c5cEcc09cc c c c c cc "cc cc c c' c+ c cc c Ec c c# c c c. c% c cc& c5cc. -c /cccc c c c cc cEKc c c 7 cc" c c c4<22c cc c* c c cc "cc* c c c ' c'c. c c* c( c' c'c. c/cc"c c c c c0114c cc c cEKc' c5 c c c c c011Hc c c c" c "cc cEKc"c' c5 c c 011;c c"c cc c c" c" c c cc c c c ccc cc & c cc c c" c c cc c c) cc c 5 c @c cE"c' c.c c c cE"c*c c" c c @c cc c c cc c c c cc ' c& cc c c c/cc c cc c& c c 3c+"c cc c"cc c! c cc c c' c' c c"cc c c' c' c+ '' c
c c c c& c5cEc c c c c c c c c5c c. c cN c. c
c ccc"cc c& c' c c cc #cc c, c5c c"c c cc c8 c c * cc cccc c ccc"cc c5ccc c cc* c c5 c c c cc cc cc%5 c& -c c ccc"cc* c cc' c& cc c c c c'&c!c c4<;:cc cc
.
! c c cc c
c
cc#cc c& c5c c' c c. c /c c c&c+"c5 c cc cc c" cc cEcc cc c#c c cEc c4<<
cc c c c c5c c5 c c/cc c c " cc c cc$ c+"c cE c cc cc c#c c cc cc' c c4<;Hccc c c c c cc"c c cc c*! c c c c c ' ccc' cc /c c c cc c' cc c c%' -c cc c ! cc$ c/ccc cc& c&c"c c c Ecc c c c0119cc#ccc c c cc c c ! c cc c c cc cc c#c cc c c c c" c c/cc c c c c ccc c c c cc cc cc cc cc cc cc cc cc cc
—+( '3 / - .5 cc cc cc cc cc cc cc cc cc
c
UrT cCcLc —+ 'c c' c8c ccc cc 2 ccc c c'>+ccc c* c' c cc.6*ccc c011Lc c ( 'c c91Oc ccc7 c c c cc c c c c ) * c5c c c c cc c ccc c cc c c c cc c c c c c c c c 7 c" c c c c c c c cc ) * c c. ccEc"c c c c cc4;c c c c c c c( c c c c5 c+ c c' c c c c ccc cc c c" c c cc ccc ) c cc c cc c c c c 3 c c c c c cc. c* c c c c c c c c c c c cc' c. cc"c c c" c c c c c cc011:cc ) cc c Ac c! cc c c* c c! c c0Hc c cc c cc" c91Occ c Ac c! c * c! c c c c c c c( c&c,c c c c, c á
c c0L c& c0111cc.6*c c. cc
' c" cc.6*c. cc c c c c c011Lcc
á
Ec7c c c cc011Lcc
á
* c cEc c c cc c cc
á
c c c) * c' c. c c cc4L c( "c 011Lcc
cc
DccUrT "cr c c cc P/Uc
AcCcrc%c cc c cc c cc )cc c cc cc c cc 9cc c cc cD&c c cGrcUc cc cc c cc & cc c cc c 3c c cc c c c cc c2cc c cc Tc cc
Kcc c#$c
C cccc#c$cc
cc +---c .<--c *<---c +-<-c BA<-c cc cc cc cc cc cc cc
cc ,$Ac A$Ac <$Ac *$=c -$Bc cc *$,c -$+c -$Bc -$>c *$-c *>$-c
%c"ccc cc)c cc/c)c ccc c $cc cc cc cc cc cc
ACHIEVEMENT
c
&c c cc c) * cc (c4L114c, c c c c c c c(/&c42114c c' c c cc c" c c c c "c c c" c c c) * Ac c c&c c # c c @c$c"c cc cE @c/c c'
@c & c c c@c* c c& c @c c cc(c cc c 8 c5 c Pc
I Occc c
I Occ & c
O HA c c
Arrc cWr c
á
c
á
c
á
c
HrcCcWr c
á
c
á
c
á
c
˜ rc cWr c
á
c
á
c
á
c
Gjrc cWr c
á
c
á
c
á
c
A rr cCcWr c
á
c
á
c
á
c
Ar cCcWr c
á
c
á
c
á
c
NrcCcCcLc
á
c
á
c
á
c
cc & cc c cc9 cc$c9c cc)c)c9 1c.--* c 9 1c*B--*c;c9 1c*+--*c $c I Oc c " c cccc/ ccc c%cc 'cc) c / ccc:ccc$cc I Oc & c " cc/ ccc6 c%6/cc 'c)c /c) c $c OH A c c (/&c cc( c/ c6c c& cc(/&cc c c
c6c cc cc c cc cc
TYPEcOFcCEMENTRODUCEDcc ) * Ac c c( c c c c c c c c5 c+ cc cc 0cc cccccc( c c cc c c cc cccc cc
c* c cc3 c!c 3c3!c c c c c3 c c3 c c c ?? ( 0c cccccc c c cc c c c" c c c c%c cc c" cc cc" c c ccc -c c cc c c cc c cc c c c c c cc c c c c c c" c c c c c c c cc c c c! c c c c c c c c c c c
cc ccc c c" c c c c cc 2 , / 0c
cccccc c5 c+ cc c cc c;1Occ c c
c" 3 ccc c c c cc c c 3 cccc" c c c c cc c c c c cc cE ccc c c c c0HOcc c c c c c c c) cc c ccc cc c c cc c! cccc c cc c " c cc c c" 3 cc c cc cc " c c" cc c" c cc!c c c" cc c cc c cc c cc cc
˜HAR UGUDAcCEMENTcWORK c#˜CW$c DIVI IONcc LANDc "ccc:cc cccccc3/cc c c *=
$c9c ccc9) 2c3cc cc c)c c )c c*- cc& c)c $c9c c ccccc*=
ccc ccc*..,$c"c cccc) cccc*..Ac cccc cc*Bc c*..A$c RAWcMATERIAL c & cc) c cc??ccccc )c)c c1 c
cC rcc ccccccc)c ccc ccc9cc cc!"c% '$c9c c cc==E$c
cGcc cccccc"c c)cc cccc)c Fcc cc c
cc cc $c"cc c ccc
3 cccc c cccc8?c ?$c9c c cc<E$c ccccccccccccccccA$FcA c cccccc9c ccc99 #c9 c<-Ecc cc c c2$c9c c cc,.E$cc
MANUFACTURINGROCE c " c cc cc c7ccccccccc <- cc$c ccccc:ccc ccc cc cc/ c cc cc $c"c c) cccccc) c /c MANPOWERc TRENGTHc & cc c ccc$c"c& cc c cc c)cc*,>cccA-.cc $c9c c/ccc )c)c c cccc1 cc cc
¯ cc cc !!¯cc "!"!#cc $%&'cc (()%*+c cc cc cc cc cc cc cc cc
VI ION,cMI IONccVALUE cOFcTHEcCOMPANYcc "cc c/c cc/ c
c;c/ ccc/ccc $cc VI IONc
cccccc& cc c cccccc$cc
cc//c)cc7ccc7ccc
$cc MI IONc ccccccc ccc??cc)c cc:c
ccc ccccc:ccc $cc VALUE c cccccc"cc c/c/cc/ cc c/ ccccc c/ccc@ c $c" cc c) 1 c
Ic INTEGRITYcc ccc cccccc c c)cc c cc
ccc/ccc $c9c cccccccccc c ccc $c4c) ccccc c c c cc;c $cc IIcCOMMITMENTcc cccc c cc cc)/cc cc /c c $c4c) cccc c c c c c;c$cc cc
IIIA IONcc
c cc c
c?c cccccc )c) c)c cccc/c ccc $c3
c c cc;c/ c)c c/cccc cc c /c;c $c4c) ccc
cc c / c cccccc cc cc $cc IVc EAMLE NE cc
c ccc)cccccccc c
cc c c/ c
c
cc;c // c
c cccc c;c)$cc Vc PEEDcc c c cc: ccc;c7c cc
cc$c c cc c
cc cc
ccc?c?c$c4c) ccc
cc c c c c
c c c /cc /$cc cc
ADDRE c UrT cCcL,c˜ rcCcWr ,c NrcD rcrc ,cAr,cDr c˜ rc PcCc' c P c#&$c ( &/ ( c Fxc#&$c ( cc cc cc cc cc
PRODUCTIONccDI PATCHcc ©c ¯''/¯''c ¯''/¯''0c ¯''0/¯''+c ¯''#/¯''1c ¯''1/¯'''c ¯'''/&&&c &&&/&&¯c &&¯/&&c &&/&&c &&/&&c &&/&&0c &&0/&&+c &&+/&&#c &&#/&&1c &&1/&&'c cc cc cc cc cc cc
,-%. (c *$BAc A$.=c <$ABc <$
" -%. (c *$AAc A$.
—+7 ( c tock Codec Bombay tock Exchange c Pational tock Exchange c Ôeutersc Bloombergc
x x c — c — c — c
cc
' 0—+( c. c*c&c# c(cK5Kc 8 c& c' c0 c+c c'c#c& c%, -cc "c3cL111<9cc c3c cc
c?c::<4;211cc +!c?c::<0241
c?c0::909cc +!c?c0::99
c?c0222L4BL;cc +!c?c022204022294cc ,c?cP "cc c?c&c+ B c' c8c$c*?c#ccc &c3c9:HHL4cc E c3c cc
c?c02919Lcc +!c?c02919:cc ,c?cP "cc c?c&c+ B c' c8c c/ccc #c3cL<94
c?c0240:
*cc3c cc
c?c0<90<4cc +!c?c099H2Hcc ,c?c P "cc c?c&c+ B c' c8cc c#c c (c&ccc c c3c;:2010cc (c3c cc
c?c02941LB41Hcc +!c?c029412B441cc ,c?c" P "cc c?c&c+ B c8 c5 c' c8cc, c c c cc c3c;49040cc 8 c5 c3c cc
c?c0H9910
c?c0;0H4;Hcc +!c?c0;0:
c?c009:;
c?c0LH419cc +!c?c0LH441cc ,c?c&cc c?c&c+ B c' c8c5 c* c ccc & c c3cH4HL4Hcc & c c3c cc
c?c0222L4B14cc +!c?c022204BH
c?c&c+ B c' c8c (c$c*?c#ccc &c3c9:HHL4cc E c3c cc
c?c02919Lcc +!c?c02919:cc ,c?cP "cc c?c&c+ B c' c8cc6c ?c/c* ?cccc #c3cL<94
c?c02404;B042B004cc +!c?c024H;0cc ,c?cP "cc c?c&c+ B ccc cc#ccc c3c9
c?c0;0H4;HB4;:cc +!c?c0;0:
c?c009:;
c?c0LH419cc +!c?c0LH441cc ,c?c&cc c?c&c+ B c8 c5 c' c8cc, c c
?c#" cc c3c;49040cc 8 c5 c3c cc
c?c0H99191cc +!c?c0H999H2cc ,c?c" P "cc c?c&c+ B c& c' c8?c' cc c ccc
& c3c:94119cc *cc3c cc
c?c0<90<4c0<9444cc +!c?c0<9241cc ,c?c P "cc c?c&c+ B cE c' c8?cE cE c) c E cc$cE c#cc $c3ccc $ c3c cc
c?c02:H;HB014LH0cc +!c?c02:H;Lcc ,c?c&cc c?c&c+ B c/c' c8?cc6c ?c/c* ?c ccc #c3cL<94
c?c02404;c024042c024004cc +!c?c024H;0cc ,c?cP "cc c?c&c+ B c c' c8?cc c#c c
(c&ccc c c3c;:2010cc (c3c cc
c?c02941LB41Hcc +!c?c029412B441cc ,c?c" P "cc c?c&c /+ c
c
9 cc ‘ddress for correspondencec UltraTech Cement Limited 'B' Wing, 2nd Floor ‘hura Centre, Mahakali Caves Ôoad ‘ndheri (E) Mumbai 400 093 Tel: 022 - 66917800 Fax: 022 - 66928109 Email: [email protected]
cc Ôegistrar and transfer agentc harepro ervicescc (Unit: UltraTech Cement Limited) atam Estate, 3rd Floor
‘bove Bank of Baroda, Chakala, ‘ndheri (E) Mumbai 400099 Email: [email protected]
x
xc
cc cc cc cc cc cc cc cc cc
WOTcANALY I
cc
cc cc
W cc
r cc Ic Lrc c rcr ,cc
Ic MrcG!crr ,cc
IIc A!bccrcrcc c c rcc
IIc Mrc c cc
Orcc
T rcc cccc cc
Ic F cccbcc!cc crr r,cc
9$c
IIc Hccc crc rccc
99$c 8c cc
cc cc cc cc cc cc cc cc
3(*+9+cc
c66"cc
4 34c66"cc
# 8 3 c66"cc
2!& c66"cc &$4c66"cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
+9+**++9 '49cc cc cc cc cc cc cc cc cc cc cc cc cc 2'(*1**+,—'++*(1(**+'99+*@3()A,+1*4**9 B"+ (1;$$&0$C5;$$C0$D>;$$D0$%c 4c c cc ( c
;$$&0$Cc #c
;$$C0$Dc #c
;$$D0$%c #c
cc cc
cc
cc cc
;20L;H4Lcc
9 c
4H:L<141;cc
c
4H<1L9
( .c
%24<2401-cc
c
2120:H19c
+ ( c ,9 cc 2 .c
4040HH1;2cc
;902L01c
H:0:<4L:c
9LHLL:cc
;HH011:4c
;014L099c
BDD"&;##$c
;$"#E&$CCc
;#%&B;D"$c
cc
cc
cc
4490H99LL1cc
404L22L00:cc
400L;:1LL
' cc
:02HL2LL:cc
cc:2LH92<10cc
cc;H19:141Lcc
2 .c
H19<2L<
H919LH90Lc
L;LL119LLc
( -00 c
cc;9LL14<9c
cc:L22;012c
ccc
9 c
cccccccc41111c
cccccccc41111c
cccccccc41111c
+ c ' cc ( ' c ' c
%&EE%C&;Cc
C%&&%D&$%c
BD%DC&#DEc
cc cc
cc cc
cc cc
9429L:1:9cc
9
L914L:<0:cc
cccc04249H9c
3c
3c
B;$E;C#"&c
B%E#%"D;Dc
#B$"#&%;&c
cc 3cc
cc 3cc
cc 3cc
c + ( ' c 7 cc c c
3c
3c
3c
> cc
L920<;HH
:90922214cc
2<1LL09H1cc
cc
cc
cc
ccccc00:1;Hc
H1;0:L4c
444<1919c
3c
3cc
3c
' , 7 c ' c — ' c
ccccccc
ccccccc 9 cc
01:HL:H;;cc
+ ' c
%&EE%C&;Cc
09:0HL::4cc
H44;H:4:2cc
C%&&%D&$%c
BD%DC&#DEc
cc
PROFITccLO cA/CcOFcULTRATECHcCEMENTcLIMITEDc#˜CW$c FORcTHEcYEARc',c' cc c ©c ,c -cc
c -c - c
&&+/&#c 3 c cc ,+
&&#/&1c 3 c cc A,>,* A
cccccc*,+-B>Ac
ccccccc.
&&1/&'c 3 c cc A rel="nofollow">==,B.A=Bcc cccccc**,.=.+c
cccc%..<=<+,>'c %*-.+B.>..'c ccccccccc%*,-*<<+.*'c cccc,.<=.>*,c ccc%=+>B+'c
ccc,*.B*B+Bc
c
.2 c
(-cc cc !3c c
' '' ( c ( & ' c ( &c cc cc cc *,.-.B=*>cc cc*,
**B+A,B<+=cc
c
A>-..+++
ccB.<-B.->
<,*A,<,,Ac
, c
cc=,->,,>=c
ccccA=>-B,--c
c
c
cc,.>B=.+Bc
ccccA=*=ABA>c
ccB*=-+<+>c
+>*,++-.Bcc cc=+>+AA*.,cc
>A<*<,A*.cc
- .c
cccc,+-,B+=c
cccccBB,.A+
cccc=-*--+Ac
" c
cc<+B,+<*-c
ccc<>.A.><-c
cc====AA-.c
% / c
-c
ccccccc%,+++>-'c
ccccc%*.+,.+'c
c
( c , cc
(&'&'c &' c '' '(c ccBA+,.><<.cc cc=A,A+++-*cc +.-BB,A<-cc
, ( c ,( c cc cc cc
-c
-c
-c
cc&( 'c cc(( c &&(c
,99(9''49cc *'—*0cc
+ c c c c c c c c c c c c c"cc"c c c c c c c c c c cc c c c" cc c c =& >cc ccc c c c c c c c c c c c c"ccc c cc ((*+,,9(9'++**+c
+ c ccc cc"cc c c c c c c c c c c c"c c ccc cc c c c cc c cc cc c c c cc c ccc" cc* c c cc c cc c c cc c" c c
c c c c c c c c + c ccc cc"ccc c c c c c c c c c c "c& c c c c cc c c c c cc" c c"cc c c* c " c c c c c c c c" c c c c ccc c c c c cc c cc c "cc c c c c c c c"c c c c! c cc c c cc cc cc cc cc cc +4*,,9(9'++**+c
@A+2 0c * c" c cccc c c c cc c " c c c cc ccc c c c* c" c c c"c ccc cc c c cc ccccc c cc c cc* c cc cc cc ccc" c c"c =* c" c ccc c c c c c c ccc cc cc c c+c c c cccc" c cc c cc cc c" cc c c cc c ccc >c + c Q 0c & cc"cc c"cc" c cc7c cc "c c c cc ccccc cc c" c c c c ' 0c ." cccc c c c c c cc c c cc c"c c"c c" cc c cc* c c c" cc cc F- 7 G0c * c Ac7 cc c Ac c c c c cc c* c c cc c" c cc"c c c7 c* c c7 cc c cc! c7 cc c c ! cc c c" cc cc cc
((—+9 *H—+9c %5-c* c c 0c * c" c ccc"cc ccc c cc cc cc" c c c c"c c c cAc c c c ccc"c cc c" c c c c c c c c c cc c c cAc ccccc c c c c c cc cAc ccccc c c c c c cc c c cc cc &,*cRc. &5 . * ,cSc(8,#Ac,C) *Dc (#c (8,#c,C) *DcRc&,*c3c. 5 . * ,c (#c . 5 . * ,cRc&,*c3c(8,#Ac,C) *Dc & c c ccc c c c c cc Ac c% -c c cccc cc c c c c! c cc c cc cc Ac c cc c cc c c c ccc* c c ccc"cc cAc c c ccc c=* c c cc c c c c cccc c cc c c c c Ac c c c" ccccc >* c c cc c c c c c c ccc c! c c c c%c c-c ccccccc c* c ccccc cAc c" c Ac ccc c cc c c c c%! c c c c! cc !c -c c c c " cc cc c c c c c c c ccc cc @(A*&*,,*c(+c'/&E,c c+ &' &.c ( * (c ) c4<:1c c c c c c" c c c cc c c/c c cccccc cc c c c c c c c c( cc c c Ac cccc c cc c c c c +c cc c cc! c"c c" c c c' . c ccc c c ccc c c c c c"c c c c cc ccc cc" c *c c cc cc c c c c c c cc c c c +9*9+**+*c
& c c c& c cc c"c c c c cc" ccc c c c c c c c c c c cc c + cc c c c ?3c á
' cc c cc c" c c c cc
á
" c cc
á
' c c c" cc
á
c c c cc
á
*c c ccc
á
c c c ccc c c c c cc
á
, c c cc
á
"cc c c"c c c c c c cc
á
cc*! c cc
á
( c c c c c c c c c c c cc
á
* c cc"cc
,9(9'9'c &c Ac c cc c c c c cc c c c c c c c* c c c c cc c c c c c c"c! cccc c' c cc!cc c" c c c cccc c Acc " c c " cc c cc c c =c= c cc c c c c c "c c c c c c c c c( cc c c c c c ccc c cc Ac c c c c" c cc c" cc c"cc. 3 c c c c" c c cc c @c c c Ac" c c c c cc c c c c c c cc cc c cc ccc c c5 c c c c c c c cc7 cc* c cc& c cc c c c c" c cc c c c c+ ccc c c c c c c c cc c c c cc c cc"ccc c cc c c" c cc c" c c" c cccc c c " ccc c cc + cc c c ccAc c c c c c c c+ cccc c cc c
" c c c ccc" c c c c cc c cc c c c c cc c+ c c cccc ccc cc+ ccc c cc cc cc c c c cc c " c c c cc c c c c cc c c c+ c c ccc c c c c cc c c"c c cc c c&cc cc c ccc c+ cc" c c c c c c c c c c c cc c c c ccc c cc c c" c c c c c cc$ c c = c c c c c c c c c cc c cc c c cc c c " c ccc c c cc c c c cc c c cc* ccc cc c c c c c c c c c c c c c c cc c c c c cc c c" c"c c c cc >* c 7cc cc7 cc c c cc c c ccc c c cc cc c cc c ccc" c,"c c c c cc c cc c c c c c c c c 7 ?3c G 8c 5c / / - 8c (9 8c &cc c c c c c c7c c c c c ccc c c cc c c c" c c c cc cc cc"c! c c c cc c c cc c" c c8c c cc c cc c c c c Ôoy .A. Faulknercc c cc=cc cc cc cc c c cc cc "c cc c cc c cc c! c c c c cc" c c cc" cc c ccc cc>cc ccc "c cc c cc c c cc c cc c c" c cc c cc c cc c cc c"c c c cc cc cc cc
**,,9(9'9'c * c cc ccc c c ccc+c c ccc ccc=c cc cccc cc c cc c cc" c cc c7 c cc c c c" c c cc cc c c c"cc cc c c c c cc c"c c ccc c&c" c ccc c c c c cc c c c cc c cBc c c c7 ccc"c cc5c c c 7c c c c c c! cc= cc c>c c c c c ccc cc c c cc c c c cc c Ac c c c c"c c cc c c c"c c cc c cc"c "c c c cc cc cc cc cc cc cc cc cc cc cc cc cc cc
TATEMENTc HOWINGcCHANGE cINcWORKINGcCAPITALcc Ic CrrcAc 9/ c c c c;cc O rc rrcc #c;c / c Grcr c c CrrcLbc # c / c NcWr cCc
Irrcc
'c cc *<=B.-*->c *<.-BA.<-c ccc%+*.+*,-'c cc cc+-+,=<-Ac ( &&c cc A*+AB=-=Ac cc cc (''c
' c cc cc>+,B><*Bc ccB>A,+B,-c ccccccA=--+,c cc cc><<,--=*c &''c cc A.
)cI / c cc cc <-$--c cc >-$,Bc *-B$A.c cc ccc =$<>c & c cc cc,B$,Ac *--c (''c
c cc *,*,<<->+c cc<=,=.*B=c cccccccc.BA<,c cc cc>,-*B,AAc &( c cc BA-*B=.,=c cc # &
'$c
)cI / c cc c A$+-c cc B$=Bc ,A$.*c cc cc+$>=c cc =$.>c
c c+Dc011;312c c ccc"cH1Oc c c011;312cc c c c"cHL<:Occc cc c c c c c c c " ccc c cc011;312c c011:31;c"c c011;312c ccc c"c4L:9Oc c c c011231
((*+,)9 (9+'c Gross working capital:-c Ec c cc c cAc c c c c c c c"c c c c c c cc c c cc 3 c c" % c"cc"c" -c"c"c c % -c 2orking Capital:-c Acc c c c" c c c c c" c( c ccc c cc! c c cc c c c cc c c c% c"-cc"c"c c c! c ) . /( c c"c cc c&c c c c cc c c c c!c c" cc c c c c c c c" cc c!cc c c › ÔAN NT 2ÔNG CA›TAL:-c 8c c c c cc c cc"cc c cc* c cccc cc c cc c cc c cc c c5 c c cc c c cc cc c@c c c ccc c/c cccc ccc c c cc c7c"ccc cc c c" c c cc!c c cc c ccc c c cc c c cccc cAc!c cc c c c c c c cc c cc c cc c"c c c cc c+c!c! c cc c cc c c"c c c c ccccc c c c " c%"-ccc c c cc( c c c c
c cc cc cc c ccccc c c ccc 6AÔABL Ô FLUCTUATNG 2ÔNG CA›TAL:-c "cc c c c c! c c c c c c c c c cc cc cc5 c cc c cM c& cc c%#-c*c c+ c*c c% -3c 3 c c c cc c c cc5 c cc c c7 c7 c cc c c c c c cc c c" c c c c c c cc c c c c cc "cc c c c c cc cMc c c c c c/c c c c c c c"c
cc cAc7 cc c cc c%c -c ccc ,(—9 **+,(—*+*+c * cc c c cc c c c cc c c ?c 4c/c c c c c c Tc 0c/c c c c"c cc cc cc cc cc cc cc cc cc cc cc *+9 (1( *9(4('*c
* c cc c c c c c3 3c" c c c"c c8cc c cc" cc cc c7c c cc c c ccc c c7 cc c 8c c ccc cc c! c c cc c c c c, c ccccc c c c cc c c, c c cc c7ccc c* c c c c c c c c cc cc' c c c "ccc c c c c c* ccc c c c c ccc c* ccc c " c c c!c c c cc 7 c&cc7c cc
cc c c c c! c cc c c cc c c" c( c c c c c c c cc c c " cU "Vcc c c cAc cc ccc c ccc 8 cc c cTc ( ccc c c c7c c cc c cc c c c c c* c cccc c c c c ?c WcAcquisition of resources ccc c"cc cc c Wcanufacture of the product c c ccc c3 3 c c cc WcSales of the products cc cc c c' cc c "cc * c c c cc c cc c cc c"c c ccc"c c c ' cc c c"cc c c ccc c cc c c c c' c c c c c cc c c* ccc c7c c c c c ccc c c c c c c c7 c cc c cc! c ccc c@c c c c c! c c !cc c cc c" c c c c c' ccc c c c c c! c cc c c ccM 3ccc c c c c c cc c 3" cc cc c c* cc c cc cc c c cc c c c"c c c cc c" c%& c#"-cc c"c cc c cc c c c c c ' cc' cc (I)9(I, (c 9 c c c c / /( /cc
* cccc7 c c c c c" cc c c c cc/cc c cc cc Tc * c c cccc ccc ccc%-c c cc% ' -c c%-c" c%#"-c cc%' -* c c ccc c c c cc c c c c
c*c c ?c%-cc c cc%-c%"-3 3 c cc%8 ' -c c%-c cc cc %+E' -c* c" Ac ccc c c7c c c c c cc c c* c cc c cc c" c cccc ccc cc%E('- c ccc c7cc%c ccc -c c c c c c cc c! c "c c cc ccc c cc c c c c c c c* c c% "-c cccc %' -cc c cc c ccc"c cc c ccc c* c c" c%-c cc c"cc cc c cc%('-cc cc!cc! c c c cc cc c c ccc c c c c%'''- cc c c c" c c ccc c c c c ccc7c"c cc cc c c c cc c c cc c c c"c" c cc cc cAc c* cc c c c c cc c ccc" c* c ccc c c ccc 3 cc c c c cc ccc c c c c cc c c 3 " # c c c c c c c c c"c c7 c c c cc c" cc,!c c c c c c"c c"c cc cAc " ccc c c c ( c c c c 7 c cc c c c c cc c c"cc c " c c c c c" c c c"cc c c c c cc ccc"c c c c" c c* ccc!cc cc c c7 c* c c c"c c c c c c c c" c c cc cc c c c c c cc c c c c c c8 cc cc c c ccc c c c cc" c ccc c c c+ c c c"c c7ccc ccc cc c c c"c c c cc" c c"c c c 3c c c* c c c c c c cc ccc c c cc cc c c cc cc"c c cc cc cc cc
,(—9 '9H—99+4 **c c c ccc7 c c c c c7 c cc c c c c c! c c c c c cc"c c"c
ccc c' c c c"c c c!cc c " c c c cc"cc c" c c c c ccc" c cc c c c c c c c ccc c c c c c cc cc c c " c ccc cc c c ccc c c c c c c" c/c c7 cc c c c"c c c c ccc c c$$ c" c&cc .7 c ccc c c c cc c c cc c c c c&c c c c cc c7 c ccc c"c cc c Ac c!c7 ccc"c cc"c c c cc c c* cc c c c c c "c c"c c cc c c c" c c c7 c cc cc+ccc ccc c cc c c c cc c* c cc c c c c"c c c c ccc c cc7 c c c" c c c" c c c cc c c c c cc c! c c c c c c"c c c7 c c Bc"c c cc cc"c c c" cc c c cc c cc7c cc c c cc c c* cc ccc c c c! c cccc c c cc cc* c c c"cc c c c"c c c c c cc c c* cc ccc c c c c c"c c cc c"c c c c c c c"c cMc cc c$ c cc c c c c c ccc!cc c c c c c c"c c c c c c c c c cc c c c"c c c ccc cc cc cc cc cc cc cc
'49,)9 (9+' cc
cc cc cc
cc cc cc cc cc cc cc cc
'49,)9 (9+'cc & cc c cc c c cc c c c cc c 7 c cc c c c cc c c c c c ccc c cc c" c* c!cc c cc c c c" c c" c cc c # c c cc c c c c c c cc c c"c c c c c c c7c c cc c c* c cc c ccc c 7c c c ccc c c c c c c c c cc c c c c c ccc c c c cc* ccc c c cc c ccc c c"cc c cc c" c cc ccc c c c c c cc c cc c c c c c" cc "c c 7cc c c c c c )9 (9+'+*'49c * c c c c c c cc c c c c c" c c c cccc c c c c "cc c cc c c c c c" c c c c c c c c c* c c ccc cc cc c c c c c ccc c c"cc c c"ccc 411 c c c cc cMc c cc c cccc c c c" cc cc c c c c c"c c cc c c c c c ccc c cc cc cc cc cc cc
'G 0c ( 0c ' c cc cc c c cc c c7 ccc
' cc* cccccc c" cc c c c ccc c c* cc c"c c c c c c"c c c c" c cc!c?c ' c# cRc' c& c cccccccccccccccccccccccccccccccc' c." c * c c cccc c c c c c"c c c cc c" c c c c c c cc* c c" cc cc" c c cc cc%c c c-c ,!cc c cc c" cc cc c c c c c c% c c c c" -ccc c c c c ccc cc c c c8 c c cc c c c c c c c! c c c c c c c c" c c c c * c c cc c cc c cc c7cc c c cc c c" cc c c c c c3 3c c " c= ccc c cc ccc c c " c c c ccc c c ccc c >* c c cc cccccc c c" c c" c" c cc c c c c c,! ccc cc c ccc c c c"c c c "c c cc c" c8c c5 c c ccc c cc=cc c cc ccc"cc c c c c >5 c c c c c c"c c cc ccc cc >c 9'*(—*++9;"c á
c c cc c c c c cccc
á
cc cM c7 B cc
á
,!c c"c" c cc cc
á
) c c c c ccc c c c cccc
á
) c 3 c7 cc
á
cc cc cc cc cc
cc cc cc cc
Yrc Rc cc cc
'c *$,,c
' c -$<*c
c -$<+c
cc cc
cc
cIrrcc cccccc& c c" Accc "c0?4cc cc cc c c
" ccc c cc c c9cc c c ccc c011:31;c c7 c c c011231<c/c c cc"c c c c c"c c c cc cc c c ccc c cc c" c ccc c cc c cc cc c c!c cc cc cc
H. 0cc * c ccc cc" c c"c7c c* c c c# cc c "c c c cc c c c c c c c c ccc c c c c c "c c cc ccc cc cccc cccc c"cc * c"cc"c c cc c ccc c c c ccccc c c c c c* c c7c c cc c c! c c cc! c c c c cc7c c c c" c* c# cc cc cc Cc# cRc' c& cMc c ccccccccccccccccccccccccccccc' c." ccccc cc ccc Kc 3 c7 c* c7c ccc Ac" c c c c 3 c" c c c c7c c* c
c c7c c c" cc c cc c c cc cc c I3 c Icc cI7c c Icc cc
9'*H—9(+9""cc cc cc cc cc cc cc cc cc
cc cc cc cc
Yrcc Rc
'c -$>,c
' c -$A*c
c -$A-c
cc cc ccccc c cccIrrcc
c
ccccccccc&cc c5 Accc "c4?4c cc cc c7c c
/c c cc c cc c c7c c7c c cc c "c c c cc ccc c* cc cc c c c cc" cc c7c c& c cAc cc c c c c c c cccc" c cc c7c c A c c ccc cc cc ccc9
+ 0 c
,cc c c cc ccc cc cccc c"c "c c c c7 cc c" c5 c ccc c c c c"c c c c"cc c c c c c c c c c
ccc c" c" c c cc cc c cc c" c c cc!c c "cc cc c c cc c c c c c cc c c c c" c cc c cc c c c c c cccc"c c c c c* c c c c c c cc cc cc 19 1*+999(+*0c á ccc c cc á
cccccc cccccc
á
c cc
á
*c c c c c ccc cc
á
.c c c7 cc
á
')*+9* *'0cc ccc c ccccc
á
cccccc cccccc cc
á
á
c c c7 cc
á
*cc c c" c cc c cc
cccccccccccccccccccccccccccccccccccccccccccccccc9 0 J c ccc9 c
c c cc c cc cc c c cc )cc c c cBc c c c c cc c"cc7 c c ccc cc cc cc 7c c c c c.c c c c c c cc c cc c ccc c c c c" cc7 ccc c c cc " c cc cc cc ccc c c c c c c ccc c !c " c cc c c cc cXcc c cc cc cc c cc cc Yrc Rc cc
'c *+$,Bc
' c B*$+,c ccc
c cccc9
c A*$-=c
cc
cc
0cc
ccccccccc& c c c cc c c cc c cc
c 3c c c c c c c c c c cc c cc* c c 3c cc c ccc c011;312c c011231<c* c cc c" c c011;312c c ccc c011231
1 /0cc
cccDcc!rc c*cI!rcxc(c ccccccccccccc cc Yrc Rc cc
'c *.c
' c .c
c *,c
cccccc
cc
c
cc
c
Irrc cccccc* ccc c c c c cc c cc c
c cc/cc cc011;312ccc ccc c ccc c c* c cc c cc7c c cc cc cc
-9 + 0 0c ccccccccccccccccccccccccRcMrcTrO!rcRc*cMrcCc ccccccccccccccccccccccccccccccccA!cRcMrc I!rcc Yrc Rc cc c
'c AB$.=c
' c *=$->c
c ,,$
c
Irrc cccccc" cc cccccc/c)c cc)
$c"cc ) cc,-- rel="nofollow"> -+c cc)c/cc)cc/c /$c9cc c)c c cc c cc c cccc/)c,--> -+c ccc,--= ->cc,--+ -.$c cc
+ 0 0cc " c* 3(c# cRcc cccccccccc" cc 4c c
;$$&0$Cc 4;
cc c
c9
0c
;$$C0$Dc :<4Lc
;$$D0$%c ::<9c
cccccc* c c c c7 cc c" c c c
cc c c cc/ ccc c c"c " cc c cc c011;312c c" ccc7c c c c cc c cc c7c c ccccccccccccccccc A!rcC rc ccccccccccccccccccccccccccccc&c' c cRc" c!c9:Hc cccccccccccc
4c c
;$$&0$Cc 01c
;$$C0$Dc Hc
;$$D0$%c Hc
cc c
c9
0c * cc cc c cc c" c c c c&cc c c011;312c c011231
( + 0 0cc ' c* 3(c# cRc c ccccccccc' cc 4c c
;$$&0$Cc ;90c
;$$C0$Dc 4144c
;$$D0$%c 4:92c
cc cc
c
9 0* c c c c c c c c cc cc c c c c5 c c c" c ccc cc ccc"c c cc cc
A!rrcc &c c cRc' c!c9:Hc
cc 4c c
;$$&0$Cc 90c
;$$C0$Dc 9:c
;$$D0$%c 00c
cc cc c
c9
0cc cccccc c c cc "ccc c"c cc cc c c c/ c ccc c cc c"c cc.ccc c c"c" cc c cc c7 c ccc cc cc
) . /( + 0 0cc &c c c c cc c c c c ccc cc cc* cccc cc c c , cc cc c c c c c ccc 8 c' c* 3(c# cRc' ccc ccccccccccc c8 c' cc cc
&c cc c c% c c3c c" -c c c c c c c* c c c cc c c cc cc c c* c c c c ccc c c c c" c c cc c c c c cc cc c c cc c c c c c c c c c" c "c c c c c cc cc cccc c c c cc c c ccc cc cc cc cc cc cc cc cc
cc cc cc cc cc cc cc
Yrc Rc
'c *Bc
' c =c
c >$+-c
cc c
c9
0cc cccccc c c c c cc c c c c c cc c cc c c c c c c c cc cc c c c c cc 011;312c c011231<c* cc"c c" cc c c c c c" cccc cc cc cc cc cc cc cc cc
/ 0cc c c cRc &*c!c411c ccccccccccccccccccccccccccc 4c c
;$$&0$Cc 4H9Hc
;$$C0$Dc 4<99c
;$$D0$%c 09:Lc
cc cc c cc
c9 0cc cccccc* c c c c cc c c c c c
c c c cc cc* c cc cc" c c c c c c ccc c c c011:31;c c c c
c4H9HOcc c cc c c c ! c0cc c c c c 4<99Oc c09:LOc cc cc
0cc Ec c# cRc%cMc'(E-c!c411c cccccccccc 4c c
;$$&0$Cc :HH4c
;$$C0$Dc :424c
;$$D0$%c ;021c
cc cc c
c9
0cc cccccc* c c c c c c cc c c c c ccc c011231
c c!c c c"c cc c cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
FINDING cc cc cc
cc
cc cc cc cc cc cc cc cc cc cc cc
FINDING á
cc
' c cc c c c c c c " cc
cc á
* c7c ccc c c c c c " cc
cc á
* c c c c cc c9139Hcc c ccc c9cc cc cccc cc c c c cc cccc
cc á
* c cc c c c ccc c cc
cc á
* cc ccc "c c c cc c c ccc
cc á
cc cc ccc
cc á
cc
." cc c3 3c"c c cc cc c cc c c8 c' c cc
cccccccccccccccccccccccccccccccc cc cc cc cc cc cc
—
*+9
cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
á
— *+9cc * c c cc c c c c c c c" c c c7cc
cc á
* c7c c c c c"ccc
cc á
&cc c c c c c c c c c c c c ccc
cc á
cc
* c c c cc c" c c c c cc
á
' cc c cc c c"ccc c" cc c cc
cc á
, c c c" c c c c c7 cc c cc
cc á
* c c c c c c c c c c c c" cc
cc á
* c 3 c c c c"cc cc
cc cc cc cc cc cc cc cc cc cc cc cc cc
CONCLUSION cc cc cc cc cc cc cc cc cc cc
(('—9cc cc
cc
* c c" ccc c cc c " c c c " cc c c& c cc "c c& c5cc cc c c c c c c c cc c cc c c " cc c cc cccccc* c cc c c c/ &.'(c c& c 5c' cc& c cc;1ccc c* c+c& c7cc c cc c " cc/ &.'(c* c cc c c c c&cc c8 c c& cc c ccc ccc cc c c c ccc " c" c cc c cc c c 5 ccc c c c c c c/c(c c cc c cc cc c cc c c c c c c c c c7cc cccccc* cc c" c" c c c c cc c c cc cc* c c c cc c c ccc c c c c cccc c c0L!;c cc c cc c c cc cccccc* c c c c c/c' c8c cc ' c8cc c cc c c c c " c cc cc cc cc cc cc cc cc cc cc cc
292'9 14
cc
cc cc cc cc cc cc cc cc cc cc cc cc cc cc cc
5 5. (E#& /Dcc á
c c+ c c4<;2cc " c/c c. c c cc
á
c#$c6cE c c$c c& c4<<:c c
" cc
á
' c c+ c cE c " c'cc cc
á
c c6c c$.c& c c6c c& c$ c
" c. cc
á
%& '&'( )*+,*-.
/
cc
0 c á
Ú 10 2('3' )455/-. . cc
*4 c
á á
"cc cc c c
á á
cc cc
'c
cc & c& cc011:31;c c011231
'c c c
